Product review (4 stars): Great BEVERAGE COOLER!!!  NOT a refrigerator.
This beverage cooler is exactly what it says it is and does exactly what it says it will do.  Some reviewers and purchasers are confusing this product with a refrigerator.  If you want something to get your beverages below 40 degrees fahrenheit then this is not the product for you.  It is not meant to be used outside.  If you use this in the way it is intended it is a 4 star product.  The reason I only give it 4 stars and not 5 is I wish it had an easier to access thermostat knob.  To be clear it is not difficult to access it, it is just difficult in my setup.
This beverage cooler holds everything I need it to and more.  It does not jack up the electric bill.  It provides cool beverages every time I open the door.  For someone looking for a really cold, almost ice, beverage, this is not for you.  This is akin to a wine cooler that you would use to get things between 38-45 degrees Fahrenheit.  This will get your canned drinks cooler than bottled, which is exactly how conduction works.  This will get your bottles to a pleasant 37-40 degrees.
One word of caution, do not overfill and do not put anything against the back wall.  This will do two things for you.  One, it will allow for air flow throughout the cooler at a normal rate, causing the cooler to get cooler faster.  Two, it will allow the compressor to work smarter and not come on as often, which will make this cooler last longer.  As I have only had mine for a month at the time of posting I can not speak to its longevity, but I can speak to it doing exactly what it says it will do.