My tank has lived inside my keezer with no issue. It is also right next to the freezer wall. One thing to consider though .. temperature will affect your regulator gauge, more specifically the gauge that reads tank pressure. As the tank cools, the gas will contract and the pressure will read low even though there is plenty of gas in the tank. In my experience, my tank pressure gauge reads pretty much the same regardless of its level until right before it runs out, which usually only happens in the middle of a party or bbq. I can usually get around 10-15 5 gallon kegs out of a tank depending on carb level and what beers I'm running. You should also google draft line balancing. Having balanced lines helped a lot with head retention and my chase for the "perfect pour". I cant remember the formula off the top of my head, but there are online calculators to help you figure how long and what diameter your lines should be given the tempertature of your freezer, keg pressure, and headspace between your kegs and taps.
I like to serve at 12 psi at 38 degrees, so for me I could either run 1/4" lines at nine feet of line or 3 feet f 3/16" line. I went with 3/16 because I didn't want to have a mile of beer line wrapped up inside my freezer. I hope I didn't make this sound overly complicated, it really isn't. It will make a huge difference in the quality of your pour though. If a google search doesn't yield anything helpful, let me know and I will try to dig up the calculator I used...cheers...wnc