It turned out fantastic! The only "gotcha" is you need low profile keg couplers. You really can't find a better fridge (well except maybe an actual keg fridge) in terms of cooling power - you can put a warm keg in 'er and she'll pull it down to about 4°C in not much more than an hour and a half or so.
Loaded - I keep the CO2 cylinder behind the kegs these days:
The finished result:
At our new place, my "reserve" fridge on the right, complete with Auber Instruments temperature controller (for the reserve fridge, still using the Silver King's original control on the kegerator)