Collected some data on Cold Steel.
Markal is L20, 2/12/11/2 with Expert Attack and Battle Frenzy and Cold Steel
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Attacker Defender Damage Cold Cold/Damage %
Lich EarthElem 400 19 4,75
Lich EarthElem 447 21 4,697986577
Lich EarthElem 758 36 4,749340369
Lich EarthElem 414 20 4,830917874
Lich EarthElem 408 19 4,656862745
SkelArch EarthElem 250 12 4,8
SkelArch EarthElem 252 12 4,761904762
SkelArch EarthElem 268 13 4,850746269
SkelArch EarthElem 248 12 4,838709677
SkelArch EarthElem 266 13 4,887218045
VampLord EarthElem 469 22 4,690831557
VampLord EarthElem 433 21 4,849884527
VampLord EarthElem 499 24 4,809619238
SkelArch Hydra 436 40 9,174311927
Lich Hydra 279 25 8,960573477
VampLord Hydra 432 39 9,027777778
Lich Cavalier 264 24 9,090909091
SkelArch Cavalier 186 17 9,139784946
VampLord Cavalier 322 29 9,00621118
Lich Cavalier 273 25 9,157509158
SkelArch Archmage 1453 132 9,084652443
Lich Titan 399 36 9,022556391
Lich Archmage 504 46 9,126984127
VampLord MstrGrem 612 56 9,150326797
Spectre Djinn 1242 113 9,098228663
BoneDrag RakhRani 1085 99 9,124423963
VampLord SteelGolm 224 5 2,232142857
SkelArch Titan 827 75 9,068923821
Lich Titan 375 34 9,066666667
Lich SteelGolm 982 24 2,443991853
Lich MstrGrem 617 56 9,076175041
SkelArch SteelGolm 1856 45 2,424568966
SkelArch SteelGolm 328 8 2,43902439
SkelArch IronGolm 348 17 4,885057471
SkelArch IronGolm 380 18 4,736842105
Lich IronGolm 515 25 4,854368932
Lich IronGolm 507 24 4,733727811
Lich IronGolm 468 22 4,700854701
Wraith IronGolm 1175 56 4,765957447
VampLord IronGolm 645 31 4,80620155
EDIT: Apparently the final strike on a stack displays the Cold damage differently. Perhaps it calculates based on actual hps taken away even though the damage done is more. So I've edited the data above
EDIT2: Hmm, notwithstanding Magic Proof special abilities by creatures like Earth Elemental and Steel Golem, most of the data seems to fall into 9.0-9.2% which could be due to rounding factors.
Also Cold Steel does NO damage at all to Obsidian Gargoyles which have Immunity to Cold which is quite logical
EDIT3: Added more data on Golems.