This is indeed an interesting subject where I have read both opinions in the literature.
This is my current view of this:
Lager yeast should be pitched warm if you have a low pitching rate (well below 4ml yeast sediment per liter (~qt) of wort). It's advantage are the accelerated growth of the yeast during the first hours after pitching. The disadvantages are the ester formation (many of them can be reduced with a diacetyl rest though) and possible shifts in the yeasts metabolism (I don't think this is enough to worry about)
Since home brewers notoriously underpitch, most literature recommends pitching warm and lowering the temp once the yeast stopped growing. If this would not be done, it would result in sluggish fermentation which is much worse and ester prone than warm pitching.
Lager yeast should be cold pitched if you have a sufficient pitching rate (4ml/L according to Noonan or a starter of 10% of the batch size). Though the yeast grows slower, this is not an issue since there is already enough yeast available. The advantages are the disadvantages listed for warm pitching.
Many of the German home brewers recommended growing enough yeast and pitching it cold. My Maibock was the first lager that followed this scheme (The Doppelbock was pitched warm onto yeast sediment and cooled immediately). In order to get to the 50F of pitching temp I used a post chiller to chill the already chilled wort even further:
Some coils of copper tubing in an ice-water bath did the trick for me.
I pitched about 80ml of yeast sediment that I grew cold (50F-58F) from a Wyeast smack pack over the course of 6 days. I had low kraeusen after 12hrs and high kraeusen after 48hrs.
I don't know yet, if all this effort will actually make a difference or not. But I like doing whats best for the yeast, and lager yeast likes it cold.
Kai