It would mean the boiler would cycle off/on, boilers should have anti-hysteresis software, basic idea is, if when boiler switches on water returns hot in so many seconds, then off time is increased, and if cold off time decreased, so as long as the by-pass valve is close to boiler, the boiler will auto increase times between trying to circulate hot water.
But clearly it can never switch fully off, as there is nothing to switch it back on again, but also while the boiler is controlling the cycling it turns back on at fully modulated, where if an outside the boiler device turns it off, it turns back on with no modulation. In my case oil so boiler does not modulate, but with gas one needs to be careful not to select a thermostat that uses mark/space control to stop the hysteresis as this would cause the boiler not to modulate.
The Nest instead of using mark/space with on/off control uses algorithms to work out the over shoot so it can turn off just once, however that does depend on conditions changing slowly, if some thing happens fast, for example doors left open, it can't work out the change, so these algorithms do not work as they should, add to that a TRV head with it's own anti-hysteresis software, and to be frank the wall thermostat does not stand a chance. Well maybe a chance if connected to boiler with OpenTherm, but not simple on/off.
So there are two methods, TRV tells some hub what is required, or a wall thermostat works the TRV or other zone valve, and you have a wall thermostat in every room or group of rooms, and the thermostats talk to each other. So with EPH thermostats one is the master, rest are slaves, and the master using opentherm tells boiler output required, and the slaves open and close the zone valves and tell the master if open or closed.
But it seems either/or not both, either home split into zones using zone valves or home split into zones using TRV heads, these seems to be no domestic system to combine both.
I looked at the Ivector fan assisted radiators, they seem perfect at first glance, same radiator heats and cools, and it circulates the air using a fan and the output is controlled by the fan speed, there is no TRV or lock shield valve, hot or cold water is circulated, however one would need all radiators in series not parallel and the building management system costs an arm and a leg. Unless in series the boiler would not know when to modulate and the water may not circulate through all radiators.
So the whole system is a compromise. And how we compromise depends on the home and how the home is used. With a modulating boiler it can be circulating water all day at 6 kW output, so as any TRV opens that room is heated, but with a non modulating boiler it turns off/on, and if off, the TRV can do what it likes, room will not heat.
So as the room cools, the TRV keeps opening a little more, I can hear the motors run, as it inches open a little more every few minutes, but it takes around 8 minutes from fully open to fully closed, with a modulated boiler where the water is not that hot that is not a problem, but with non modulating the boiler kicks in, the radiators heats to maximum then the TRV closes by which time it has over shot and the room over heats. With a modulating boiler the lock shield valve can be trimmed to stop over shooting, but not so easy with non modulating.
So as soon as a TRV realises it needs to open, it also needs to tell the boiler to start, the TRV broad casts the info required, my computer can easy see when the boiler needs to fire up
if target is above current boiler need to run, however although my computer knows, Nest Gen 3 does not, so boiler does not fire up, my computer can also tell Nest to switch on
but it seems it needs a manual intervention to read one bit of info and send to to the other device, they simply don't talk to each other in a way which can control the heating, it is like a Frenchman and an Englishman who can't work together without a bilingual foreman.
I am sure some one can write a computer program to link them, Energenie uses IFTTT not sure about Nest, both Energenie and Nest can be controlled with the Nest Mini, so there is no reason why they should not work together, except no one has marketed that bilingual foreman to do it with.