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The single box units are far from ideal. But I use mine only a few days a year, I can drown out the noise with banging tunes and yodelling, and it occupies dead space which I wouldn't use for anything else.
I've got one at work too, with the exhaust shoved up the chimney. I suspect its effects are minimal, but I'm pretty sure Lincoln's Inn wouldn't be keen on me drilling holes in the walls and plonking a condenser unit on their Grade II listed stonework, so there's not really any better options.
In the interests of science, I've just fired up the makes-room-cold-box for half an hour. The temperature in the room went from 25.5degC to 20.3degC.
Might not be air-con, but it's good enough for me.