Beez,
Except that we usually have clothes on, which reduces the radiant loss from our bodies, and the fact that we conduct heat from the warm floor with our feet directly, not through radiation.
It's all a matter of difference in radiation rates and temperatures.
It's not fair to say we "can't" be warm if the walls are "cold". Define those temps first. But it is true that we can feel comfortable in a cool room within certain parameters. Those parameters are what we use for reference in programming the thermostats and designing the temperatures. At what point does a warm floor compensate for a cool wall, etc., and can we use that info to get comfortable without heating the entire space.
Here is an important point: It is NOT important to keep the walls at a temperature as close to our bodies as possible, in order to be comfortable. Not true. 70-75 degrees is much closer to a realistic max for general living areas. If the floor gets to 87 degrees in a well insulated and stable room, where the walls are close to that but a bit less, people can't stay there for very long without overheating. If the temp needed to be equal with our bodies, we'd be most comfortable in a place with 100% humidity and 98.6 degree temperature. Sitting around in that kind of heat is oppressive and trying to sleep in it is very uncomfortable. See what I mean?
The reason it's important to find that comfortable situation is that it is much more efficient and even more comfortable than just heating until the thermostat says 70 degrees or whatever. It prevents overheating later, overshooting and heating when no one is home etc.
Unlike with forced air, we have to anticipate and time the system a bit to get the maximum comfort. But at least we don't have to put up with the draft, the noise and the mixing of all the air in the house as we do with forced air.