Bingo!
Indycar teams use nitrogen in the tires but use a vacuum pump system to purge the tires of air and moisture (several times in a row) before filling with dry nitrogen. Indycar tires also see a much wider temp range than a street car so this is more important for consistency.
Not sure how the street car garages are filling tires with nitrogen but unless purging and filling correctly I'd say the effects are nil. If they do things properly there may be a marginal improvement in pressure consistency over the temperature range.
Last nights episode of "Fifth Gear" (a UK car show) actually tested nitrogen fills and if it's worth it. Their scientific test was to use a climatic chamber (giant oven with very accurate temp readings) and put in one tire with atmospheric air and one that had been filled with nitrogen. They used two identical tires and put them in the chamber for 1 hour at 80 degrees Celsius.
Amazingly, the nitrogen tire actually had a larger psi swing than the air filled tire which begs the question, did the nitrogen machine really put out 100% nitrogen? All gasses expand and contract at the exact same amount, regardless of what marketing will tell you. 100% nitrogen will expand with heat the same as 100% oxygen, 100% argon, etc.
They also tested identical cars on the race track, one with nitrogen filled tires and one with air...both track times after 10 laps were identical.
For those worried about water in your air/nitrogen, your tire installer may actually use a little soapy water to mount your tires...that amount water that drips into the tire is thousands time more than what is in atmospheric air....and that liquid water is very hard to purge out with professional purging machines that certain race accessory suppliers offer.
Many race teams use nitrogen (bottled) for a couple of reasons. First, it is a pure gas, you don't have to worry about any other contaminants that a compressor may put out (water, rust, oil, etc). Notice on the pit wall, teams don't use an air compressor to run the tire changing tools. It is much more convenient to use the nitrogen bottle to run the impact gun and to make tire pressure adjustments during the race.
Fifth Gear's take was to pass on the nitrogen and make sure you check your pressures regularly.
The good news is nitrogen fills will not hurt anything and the green cap means you're part of a special kids club.
The bad news is many people assume since they have "nitrogen" in their tires, they don't have to check tire pressures as regularly and this is the real danger. Many older cars and SUV's do not have TPSM to alert you if a tire is low. A slow leak from a nail can be deadly, especially in high center of gravity vehicles like SUV's. Check your pressures on a regular basis with a quality gauge.
Cheers,
Geoge