There's a faster way, and it produces an excellent broth. Edna Lewis...
...wrote about "sweating" chicken pieces to produce the same results of long, slow cooking in about an hour.
Cook's Illustrated picked up on her method and wrote about it in their article on quick chicken soup.
I've used this method many, many times. It does work well!
Chicken Broth
Makes about 2 quarts
1 tablespoon vegetable oil
1 medium onion, cut into medium dice
1 whole chicken (about 4 pounds), breast removed and reserved for another use; remaining chicken separated into serving pieces and each piece cut into 2-inch sections
2 quarts boiling water
Salt
2 bay leaves
1. Heat oil in large soup kettle. When the oil shimmers, add onions and sauté until colored and softened slightly, 2 to 3 minutes. Transfer to a medium bowl; set aside.
Add half of chicken pieces; sauté until no longer pink, 4 to 5 minutes. Transfer to bowl with onions. Sauté remaining chicken pieces.
Return onions and chicken pieces to kettle. Reduce heat to very low, cover, and simmer until chicken releases its juices, about 20 minutes.
Increase heat to high; add boiling water, 2 teaspoons salt, and bay leaves. Return to simmer, then cover and barely simmer until chicken pieces are cooked and broth is rich and flavorful, about 20 minutes.
2. Remove chicken pieces from kettle; set aside. When cool enough to handle, separate skin, meat, and bones; reserve meat for another use and discard skin and bones. Strain broth; discard contents of strainer and skim fat from broth. (Broth can be covered and refrigerated up to 2 days or frozen up to 3 months.)