Product review (4 stars): Good starting point for project to build something that works.
My daughter bought me one of these for my birthday, and we turned it in to a fun father-daughter project to learn some things about electricity and heat transfer.  Our goal was to make it actually useful, and we succeeded: http://youtu.be/IT3o9jGRaDQ

Out of the box, this is completely useless.  There's no insulation, so any cooling would immediately dissipate into the environment. The cold-side was attached to the hot-side with metal screws, completely short-circuiting the thermal flow. The heat sink and fan are undersized and under powered. The peltier thermoelectric cooler is also under powered with 5 volt USB.

We addressed all of these short comings in our project by replacing the heat sink and fan with an old CPU cooler we had, replacing the cold-plate with a copper pipe cap, adding insulation, improving the thermal interface, and increasing the voltage to 9V.

Once we made our improvements, it worked so well that we had to add a thermostat to make sure we didn't freeze my soda!

It was a fun project, and I think we learned a lot along the way and had a lot of fun together.
It's a rare opportunity to learn some good science and end up with something fun and useful in the end.