I love this thing! It was very easy to set up and works great. There were a few things that I needed to add:
1. I placed some screen wire over the outside exhaust hole. While I was setting it up, a wren decided to check it out. (This won't be a problem if you leave it on all the time)
2. My window has little locking feet on the bottom, making it hard to get a tight seal. I purchased some of the putty-style weather stripping and ended up using it several places. When I move the unit, the putty moves too.

I am remodeling my home and my insurance company will not insure unless I'm living there. So some nights I sleep in one room, the next night another. Since it only takes about 10 minutes to set this up, I can be cool wherever I sleep. 
The compressor does make a noise when it comes on. However, it does not seem to be any louder than a regular window unit.