I've been a cold water shaver for about a year now. Cold weather or hot. Prep's always done with hot water, but inter-pass rinsing and razor rinsing I always use cold from the tap. Unless its carelessness, I never get burn or irritation.
I've never found a combo that didn't work: DE or SE, OC or CC. Good prep's the key and all the other common sense stuff.
Recent combos:
SE - Gem Micromatic Clog-Pruf and Gem Personna, 1935 Schick Injector Eversharp and Personna Injector
DE (open comb) - Fatip Piccolo and Astra SP
DE (closed comb) - 1956 Gillette Red Tip SS
and Gillette 7 o' Clock Yellow