Thanks to Jen for this Frugal Baby Tip!
I have used a wipe warmer with cloth wipes for 7 years now (for 3 cloth diapered kids) - it works just fine, keeps the wipes at the right temperature, and you don't have to wring them out. My only issue is that sometimes when you open up the wipe warmer, it can smell a bit musty (like a warm wet towel!), but I've never had any issues with mold or anything. Also, the wipe on the bottom of the stack needs to be super-wet when you put it in the warmer, or else it can dry out and turn brown.
My wipe warmer is a "Prince Lionheart" brand warmer...I have no idea what model, but it's 7 years old, so I am sure that there are newer, better ones out there! Good luck, and I hope it works for you!