Well I just have to throw my $.02 in here also. Having welded a substantial amount of pressure piping and taken numerous pipe welding test where the test straps(2" wide sections cut from the welder test coupon) were dropped directly into a bucket of water and then bent into a 180 after cooling to room temperature, I have never had a failure of the weld. Quenching like dumping into a bucket of water does not make mild steel welds subject to brittle fracture. I have actually seen fellow welders straps break when he slow cooled them when mine bent perfectly. I dont know if it was the welding or what, be both looked visually the same and same rods, same everything else except the quenching. Tempering where you dunk them and take them out several times will make them harder and possibly break rather than bend.
Cast iron needs a postweld heat treatment to relieve the internal stresses. When I welded them, I would use a rosebud to bring the whole piece up to about 1000 F and then wrap it in insulation till it was cool. Cast steel, I just let air cool.
So I would say that if your weld is sound and no trapped slag, porosity cold lap or lack of fusion between passes, etc. no matter what you did to cool it, it will most likely hold. A bad weld is likely to break regardless of cooling technique used.