I'm going to say that yes it does help....but really it's hard to really know unless I go back in time, do the same workout and not foam roll to compare to. Either way...like Greg said, I still get sore because it is never the same workout as the weights or reps increase. Plus after squat day I will always have trouble walking. I have found it does help soreness in my tight areas of hams, lower back, glutes/piriformis/ITB and quads (specifically the rectus femoris). I've also toyed with using the roller in my warmups too.....seems to help the tight areas.
Freezing Pool...wow....I'm already Irish, don't need that much more help.