Haven't done it, but one of buddies studied the effect of ice baths on muscular inflammation following training for his master's thesis. He filled the hydrostatic weighing tank in the lab with ice water (sounded like HELL to me) and threw some subjects in there following a bout of eccentric downhill running.

The result: While the ice bath reduced inflammation, it also negated any positive effects of training.

I think it would help a lot for your inflammation, just don't take the plunge right after you train