I'm not offering this as advice--these other guys know more than me--and I'm talking about gut feelings rather than data, but I'll be damned if I don't feel somehow invested in this debate.

​​​​​​​I find I have a strong bias toward the "squeeze it in" school. I feel that a 130mm hub should work fine in a 126mm frame, and that the only compelling reason to cold set is if you care about ease of sliding the wheel in--which often isn't that much of a problem. I don't even feel convinced by arguments about parallel dropouts, as the QR and chain forces seem like they'd flex the stays rather than put the dropouts out of plane.