Why is it best to drain it hot? If you drive your vehicle then shut it off, whatever is suspended in the oil is still suspended in the oil...but more of it has drained down into your pan as time goes by. Of course we get into diminishing returns, but the longer the engine is shut off, the more oil and impurities reach the pan to be drained.
If you drain it hot but just let it drain for a few minutes, most will get out....and if you let it drain for hours, then the oil that is still slowly draining into the pan and out the drain, is cooler..and according to the "drain hot" fans not carrying the impurities that you want removed by draining the oil when hot, thus defeating somewhat the purpose of the "hot " drain. In actuality, the effect would be the same as draining cold...except the longer the car sits, the more oil and impurities drain into the pan...and out of your engine.
Draining cold gets more oil and impurities out..because more oil and impurities are in the pan and available to be drained. Modern oil flows freely when cold. With it goes the impurities. Remember, the oil was hot and the impurities were suspended in the oil...all the way to the pan. Now some may have visions of these impurities settling in the bottom of a pan..too heavy to be moved in the cold oil as it is being drained. ..
If one thinks about it...that is rather silly.