Ours works fine to cool the house, it is heating you have to watch out for... to heat after it gets close to freezing it kicks in "emergency heating" which means it runs some electric cords that eat the dog out of electricity and still does not keep up with heating the house.
Thus why we just use our wood heater instead of using the expensive electric coil heating of the heat pump.
To be fair, my kid is building a house right now, and he is going to be using a heat pump. His is a true HP/Electric furnace - Not merely a helper element, but a serious furnace that it kicks over to when the HP ain't keeping up anymore.
Now, I would not want to rely on an electric furnace in the winter up in here... which is likely the second most expensive mode of heat possible (the first being electric baseboard), but while he will be paying through the nose for the few weeks of subzero temps, the efficiency otherwise from the heat pump should more than offset the cost. We will see. His house and mine are only off by 25 ft2, so my wood/nat gas setup (with portable air conditioner) vs. his hp/electric should be pretty comparable.