Well, I constructed the built-in-a-box prototype, and ran it over the weekend (see
here for the original article). It works just fine, and maintains a nice constant 4 degrees C inside[1].
Unfortunately the poor worn-out freezer that I started with is showing its age, and consumes about 750Wh of electricity per 24 hours. It also takes about 2 hours to get down to 4C from a 30C starting temperature. I wasn't really expecting much better, given that it's about 25 years old and has already been thrown away once! ;-)
I'm intending to give it another try with a couple of computer power supply fans in the compressor bay, some heatsinking glued to the hot points on the outside of the case[2], and the inside at least half full of bottles of water. So far I've invested a total of about $15 in it[3], so it's been good cheap fun. ;-)
BTH
[1] It was 35-40 degrees C outside!
[2] It's one of those chest freezers that have the coils pressed up against the inside of the metal cabinet.
[3] Including about $2 worth of electricity)