I also have a keezer, but I went the collared route in case I ever want to revert it to it's original condition. I thought the height of the faucets would be an issue too, but to be honest I like it where it is now that it's all complete.
Another advantage to a chest freezer is when you open it you don't lose all the cold air. And I think I can fit many more cornies in the chest freezer than I could in an upright. But you may need to factor in the keg-lift if you ever get a commercial keg (I lifted a half keg into mine with no problems, but YMMV).
The big advantage to a upright refrigerator, and the only thing I really wish I had, is the freezer up top to chill glasses. I'm very close to just buying a mini-fridge for that duty.
You can check my gallery for pics. It's a little out-of-date, but just add a stout faucet in the center, a tank of beer gas in there and mount the splitting manifold to the back of the coller. You'll be all caught up then