Product review (5 stars): works great, well worth the cost
I got one of these about 2 years ago and have used it nonstop in my office ever since.  I never had a problem and it is still going strong.

It takes almost a full day to get really cold when you first plug it in but then it keeps the cans cold, slightly above the 32 degrees freezing point as others have stated.  Any colder and your beverages might ice up when you open them so this is perfect for me.

When you set it on a carpeted floor, beside a file cabinet, or under a desk the noise of the fan is barely audible, however when you set it on top of the desk it is noticeable and might bother some.  I prefer to keep it on top of my desk in the corner since I have the room and the noise is more like a soothing white noise that is relaxing and it feels odd if I ever turn it off.

In order to ensure cold beverages you should fill it up every day because it can take a full day to cool down the new cans.  The push buttons work pretty well but once in a while you have to hold them in or press a second time to get the can to drop.  If your desk is not level or the unit is sitting on top of something then the slope could be off which would make the cans drop a little slower, so it might help to elevate the front edge slightly.

The only minor issue is that our office air is somewhat humid so the moisture in the air condenses inside the refrigerator.  There isn't a drain tube of any kind so about once a week I wipe up the excess moisture from the bottom shelf with a small napkin.  If you forget to wipe it out then the moisture will eventually leak out of the front of the unit but it is only a small amount, roughly 1-2 oz. each week.

Also, the cans on the top shelf do fall fast and land with a clunk (like a real vending machine) so they can sometimes be a little fizzy when you first open them.  To soften the impact I cut a piece of sponge material (or handi-wipe or dish cloth) about 12" wide and 4" deep and placed this on the bottom shelf all the way in the back.  This softens the impact of the cans when they fall, absorbs some of the noise, and also soaks up the moisture so it is easy to remove and ring out once a week.  The sponge is also handy to wipe down the outside of the unit so I recommend it as an accessory.

Best money I have ever spent on an office gadget.  Now I can have all the special diet sodas that the vending guy refuses to stock in our machines.  Almost every coworker that sees it will complement it and ask where to get one.