Just me talking here, but I would not want to leave a bag sitting around for 14 hours overnight like that. It would seem to me that this would substantially increase the chance of something going wrong.
As far as the rule is concerned, I seem to recall that anything over 8 (or maybe 12?) hours requires a bag collect and recheck on a domestic itinerary. I may be wrong, but I believe there is some limit in place.
To the OP, how did you get that ticketed in the first place? Is it a true "connection" or is the fare broken in ATL?