The high idle switch is great. I idle mine on fast idle about 14 hours straight during the winter - yes, I can afford the fuel.
I agree with what was said above, about starting the truck and kicking it to high idle to warm it up/cool it off inside, but you might want to start it up, and let it idle for a few seconds before you kick the motor up to 1200rpm... especially if it's REALLY cold outside. something about the cold makes the oil nice and thick, and oil don't flow that well when it's thick.