Douglas:
"Okay, so then what items must, or should be, washed in cold?"
Anything with a tendency to fade or shrink in warmer temperatures.
In general, anything bright-colored made of natural fibers (particularly red), and anything dark made of natural fibers (blue jeans, black jeans) that you want to keep the color in.
Washable sweaters made of natural fibers should get the cold water treatment, as should a lot of outerwear.
Cold water isn't good at removing body oils and sweat, but it is very good at helping preserve colors and that "new" look.
You just have to be judicious. I have some bright polo shirts that get washed in cold, but they're not everyday wear, and they're not worn for a full day's schvitzing-into. So, there's not the El Stinko Grande factor to worry about with them.
Synthetics usually can hold their color perfectly well in warm or even hot. '70s polyester was indestructible; on That '70s Show, virtually all of the costuming you saw was vintage, picked from thrift stores and vintage shops, bright as new thirty years after it was made.