Cold approaches can lead to relationships. They are good, heck, they can be the primary way for picking up girls for anyone who has solid game.
It all depends on location too. If you keep going to the same venues picking up via cold approach the same types of girls using the same routines/skills you will get the same results.
I wonder if those of you who say cold approaches dont work for relationships, if you just had a bad experience or series of experiences picking up club girls or bar girls and realizing that most of them, especially the attractive ones who like that element, aren't worth it?
If so, try approaching in different venues and go for different girls.
The idea is to get a relationship going, for most guys. But thats not everyone. I myself in the last month or so have been getting #s for the sake of learning and commiting David DeAngelo's material to my automated response.
Its a fun time. Approaching is FUN.
If you are approaching with the need to get something or a specific outcome like having a relationship in mind, where everyone you meet is a potential relationship, you won't have such a good time. Hell, you might even stress out doing it.
If you approach just to practice/see what happens, you will find it to be fun and challenging, and you might even get somewhere.