If your wild oats are anything like ours, slash them *now* before the seeds harden. They are horrid, horrid things that will stick to your clothing then dig their way into your flesh. They are barbed and will work their way into your clothing and your skin. We even had one that worked it's way into the donkey's eye socket once - I don't like to think of the pain she went through when I grabbed the end just before it disappeared and pulled it out. Here in Portugal the wild oats will grow like crazy this time of year and then dry out totally for the summer, so I don't think they will be taking any nutrients, but I still think they would be better used as mulch.
I've also found that the soil seems to dry out more slowly under mulch than under standing grass/oats in our hot summers, and the surface of the soil doesn't form such a hard, impenetrable surface with a mulch layer on top so any rain you do get will be absorbed quicker.
I guess that, if you have
enough beds, maybe do an experiment and have some slashed and mulched and others left under the oats as a cover crop so you'll know for sure which way suits you best.
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and I could mix with chicory too (ok is not a legume) good perennial.
