From what I've seen it depends on your hot water system. Around here stand alone hot water heaters are the norm, with a storage tank of 35 gallons on up for residential use. If you maintain these properly there is no adverse effect on fish. I have one of these, and use a hot/cold mix on everything from fry tanks to large growout tanks. Everyone else I know does the same, with no problems.
I do know some hot water systems are hooked imto the heating system via a boiler, or have an open stand alone storage tank above the living areas. I could see some problems with these, such as water constantly being recirculated in a boiler system before use, as well as bugs or other creatures getting into an open storage tank.