Found a good chat about Cold Calling scripts and if they work or not in the Startup Nations forums:

http://www.startupnation.com/forums/9546/1/1

Quite a bit of ground covered with and overall thought that Scirpts can be useful if used properly.  Althought the topic is calling scripts, talks include views of if Cold Calling works along with tips on how to disarm the target business.

Be sure to visit some of the sites of the people posting (in their signatures), they can hold good information!