That is a weak litle compressor, I think vapochills use it.Don't waste your time with it, it wouldn't chill water good at all.
An a/c compressor will do much much better yes, but they are a bit noisy and big.Refrigerator compressors are what you wan't.
R134a is a lousy refrigerant, it has a high boiling point and it doesn't have a great heat capacity.Propane is of course the best refrigerant to use if you can't get something like R22.R12 is a lousy refrigerant also.
Propane is like the overclockers dream.