2 gallon storage bottle as fermenter

I saw a 2 gallon water tank with a spigot at my local supermarket, it looked almost exactly like this one (though it was cheaper):
http://www.universalwater.net/Refrigerator_storage_bottle.htm
I'm just starting out and thinking about doing some small batches, it seems like it might be convenient for primary fermentation and bottling. I would either add an airlock, or just make sure the co2 can escape.
It seems pretty similar to the Mr Beer fermenter design (for what that's worth!). I've heard some warnings about polycarbonate, but I'm not too worried about leaching. Cleaning might be tricky, but I'm hoping with proper sanitation it will be ok.
Does anybody see any other red flags/problems with using this?

I used one very similar to that one which I got from walmart. Irmts purpose was to put water into and put into fridge. I drilled lid with an air lock and used 2 of them when I started 5 gallon batches, until I got a bucket. Worked great! Go for it

The yeast don't care what you ferment in, really.