Yeah I grew up in Hawaii where we had limited turn out (at most farms) and having Hay was very very very expensive. That said, we fed hay cubes over concentrates. Most horses got just hay cubes and a few got concentrates...and the very special ones got a flake of hay. We also were trained as kids to hand graze A LOT.
So I do totally understand that lifestyle. After living on the east coast....I don't think I could go back to that. And I know that most of my horses that I own now would not adapt well to it.