Александр Николаевич,
Ну если ссылаться на доказательную медицину, то результаты противоречивы:
Research on the efficacy of symptom reduction by the nasal inhalation of steam in patients with viral rhinosinusitis has yielded conflicting findings. Tyrrell et al25 reported nearly 50% improvement in cold symptoms after a 20-minute treatment with 43°C humidified air. More recent research, however, found no beneficial effect of steam inhalation therapy on cold symptoms.26 Furthermore, the use of steam does not inhibit rhinovirus replication in patients with viral rhinosinusitis as previously thought.27 The benefits of steam in patients with ABRS have not been rigorously evaluated. Still, nearly 45% of the respondents said they would advocate steam inhalation.
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Если на собственный опыт, то пар лучше организовать в ванной комнате - безопаснее в плане ожогов и не так неприятно, ИМХО.

Яна