I cold-steeped my last stout, brewed several months ago, and was disappointed. It didn't taste stout-y by a long shot. It was a nebbishy ale with a little dark roast flavor. That's not to say don't do it. But I have two observations. The first is that my stouts have never been too harsh. If anything they've leaned toward the sweet/under-attenuated side. So as a brewer, cold-steeping isn't a good match for me. The second is that I'm guessing many stout recipes on the sweet side already compensate for harshness. So if you're doing a milk stout or an oatmeal stout, and you've never had an issue... think twice. Or make a tiny batch.
I'm torn between being pleased I took a chance on a method -- what is this hobby about, after all -- and sad that my last brew before months in the Zymurgical Desert was so lame.