I have read studies, not sure how reputable by any means, that said something about a correlation between shock therapy (like ice cold bath right after lifting) and higher test levels, not sure how much higher as I no longer have my old laptop that had the two studies.
I play football D1 and can tell you it definitely is nice on the joints, etc. if you were to get in a cold pool. I am sure it would somewhat help in recovery just from keeping the swelling down, makes a big difference. Not to sure about getting in a hot pool afterwards, however, before lifting with the team here at FSU I always get in the hot pool for 10 mins. get stretched then go lift.