I hate to answer a question with a question, however:

1) Are we talking about MS SQL 2005 or 2008

2) Could we clarify what you're referring when you say "Hot/Cold" as opposed to "HA"?

I think of Hot/Cold like an Active/Passive typoe of configuration like you'd see in an MSCS cluster. HA is a more generic term for High Availability which could be Active/Passive.