I just completed the "Son of Fermentation" Chiller, and it rocks! I spent about $80 in materials, but bought all new (except fan & wall wart laying around). In my maiden voyage test I used only 2 1-gallon ice jugs. It quickly brought the temp from the ambient temp of 79F to 62.5. I had 5 gallons of starsan in my primary to play the part of "wort". It was 78 when I put it in, so the chiller had all that mass to cool down. I kept the internal air temp at 66f for a day, then 62 for the second day. Ice lasted 45 hours. replaced with fresh ice, and kept temp at 60 for two days. The "wort" was 3 degrees colder than air temp. So I had a 20 degree temp differential only using 2 jugs (out of 4 possible) of ice. the temperature varies no more than 1/2 degree cooler, 1 degree warmer around the set point, but I'm sure the wort temp doesn't vary, as it has more mass. I have 5 gallons of Altbier in there now bubbling away. Air temp 68, wort temp 66.
This thing rocks, uses almost no electric, and weights only a couple lbs empty.
Build it, you'll dig it.