Davos is one of my favorites because...

[Galaxian]

Ned's coldness was pretty much his default setting, he has been described as silent and sullen since he was young. And the whole Ned never breaks his word is proven false in the very first book when he defies Robert for planning to kill Dany. Ned has made it obvious that while he hold his honor paramout, it become a grey area when it concerns children.

[JonisHenryTudor]

Ned made it perfectly clear how he felt about the murder of Rhaenys and Aegon, and much later when they tried to do the same to Dany. It is far more likely that he took Theon in because he knew others might follow through with an order to kill the boy, but he was never going to do it. Nothing has ever said that Theon was treated coldly, he was hostage yet he was treated as if he were Ned's ward fostering in Winterfell.

I was just about to say this.

about Ned killing theon : http://asoiafuniversity.tumblr.com/post/23555400271/when-people-say-ned-would-never-have-executed-theon-had

theon disagrees "As a boy, he had lived in fear of Stark’s stern face and great dark sword. His wife was, if anything, even more distant and suspicious."

there's also Ned telling cat to keep a closer eye on Theon because if there is war they might have need of his father's ships.

Theon was not treated as a ward "ward in name, hostage in truth" I really don't get where people even get this from. but I am sorry, I am not gonna have this discussion usually I enjoy discussing things with people but I have had this one a million times, am having it right now in another thread and people are just too stubborn because they want to find more reasons to hate Theon, so I am not up for this right now.

I actually don't hate Theon, and I feel sorry for him in certain respects. Others not so much.