Um, I think this depends what you intend to do and how you want to get there, which is all part of the joy of the darkroom!
Personally I categorise toning other than very light selenium for archive purposes as special effects, and prefer to control image colour through the properties of individual paper/exposure/developer techniques. That's my preference though, and probably reflects that when I was first learning printing all my teachers were very heavy on the toning, always starting out with neutral images. When I discovered what was actually possible, I became entranced by the possibilities.
I would agree that toning gives more general case control over a variety of papers, and would also readily agree that proper warmtone papers with their super-finely-divided silver content can generally be relied upon as better 'toners'. However, assuming that your paper is well cared for and your developers consistent then the only other factor that should be affecting image colour on a given warmtone paper is the degree of exposure given. Warmer papers tend to be slower, usually at least +1 stop.
I don't have dev oxidation issues due to mixing fresh from raw components, and my dev tray is thermostatically maintained at the temperature I've chosen; usually between 21 and 24 c based on paper and maybe what I want to do to it. This is purely for purposes of predictability though, and does allow me to do away with troublesome thermometers in the tray once everything's set up and known working. As a bonus, I like the rocking motion of the dev tray floating in the bath! I got the habit after spending far too long lithing... ^_^
Ultimately both approaches can give you a cold print, but one way doesn't use a gold toner. On the other hand, gold's a good archival print treatment. Skipping the tone stage would be quicker, but do you need to get in special papers or devs? Any one of these I'd say was good reason for one way or the other, depending on circumstance.
Another way of looking at things is that starting out with a given image colour gives you more space to manouver when you do begin toning! As I say though, all personal preference!