Rate of Evolution Metrics Observed
eldavojohn notes an article up at Science Daily on research demonstrating that smaller animals with warmer blood evolve faster than larger, colder animals. From the article: "Across species from fish to mammals, they found that rates of protein evolution showed the same body size and temperature dependence as metabolic rate. Specifically, their mathematical model predicts that a 10-degree increase in temperature across species leads to about a 300 percent increase in the evolutionary rate of proteins, while a tenfold decrease in body size leads to about a 200 percent increase in evolutionary rates."
I think you have to factor rate of reproduction into this. Whales and elephants don't breed often; that would retard the propagation of genetic changes. Smaller mammals like mice and rabbits tend to breed very often, allowing them to propagate genetic changes faster and more often, making it easier for them to weather (no pun intended) changes in the environment. I don't know how this would factor to "cold-blooded" animals.
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Except that the evidence has tipped heavily in favor of dinos, or at least a large number of families of them, were, in fact, warm-blooded.
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