My opinion on why they are hard to start cold is that there are multiple issues causing it. First the fuel injection line pressure has bled off and has to be built back up. Second, cold engines have close tolerances and everything gets tight. The oil has had the chance to leave the surfaces of the bearings and nothing is floating on an oil film, start ups are when most engine wear occurs. Then there are those HUGE pistons, just think about the surface area and diameter of those piston rings, that's alot of drag against the cylinder walls after the oil has had a chance to run off. It's not a high compression motor, but that's still an awful lot of air to move and compress. Finally there is that little tiny battery, even with a high CCA aftermarket battery it is still limited by it's size.
You can get an idea of how hard it is to crank over an engine this size by putting the bike in gear and trying to push it, try a high gear to get some extra leverage from gear reduction and it's still tough to turn it over yourself. I cycle the key a few times prior to starting it after it's been sitting with the idea that I'm building up fuel pressure. I haven't put any gauges on the fuel rail to verify the theory, so I might just be fooling myself.... but it seems to help. The Odyssey PC625 battery also delivers higher voltages and CCA's and that seems to spin the engine faster and longer than the stock battery. The odyssey is a little exotic and requires extra TLC and it's own charger, so it's not for everyone. There are other batteries out there and some are new technology even better than the PC625, but that stock lead acid motorcycle battery will probably let you down unless the bike is sheltered from the cold and doesn't sit too long between startups.
Basically it's just the nature of the beast and all you can do about it is to keep a good battery in it, check and clean electrical connections, start it often and use some sort of charger made for whatever battery you are using.
Have any of you guys put a set of fuel pressure gauges on one and cycled the key? I'd be interested in knowing for sure if that method actually does any good.