To all aspiring MacGyvers out there: after a couple of years with my "Americanized" version of my water bath, I finally decided to upgrade to something commercial - an Anova Sous Vide Immersion Circulator. This system takes all the components I lovingly scrounged off the internet and packages them in a neat, clamp on commercial package. My measurements show that it is very accurate, and it is extremely easy to set up and use. It heats a water bath very quickly and holds the temperature well.
Instead of my large ice chest, I'm using a Cambro 12189CW135 Food Storage Box, with cover.
Total investment is much more than my original McGyver project, by nearly 10x. But this solution is far more "wife compatible", and we use it for actual sous vide cooking too (after a thorough cleaning of course).
I guess this is not quite as much of a sellout as going digital, but if you want to avoid the hassle of the MacGyver approach, a modern sous vide immersion circulator is a nice solution.
-chuck
ps: Don't throw out the black packing foam the device comes with. Use it to create a simple foam cover for the Anova's bright display. I used two layers of the foam, one of which is cut out to fit around the face, with the other backing that to form a wrap around cover. I taped the two layers together along the edges using black Gorilla tape. Totally light tight, took 5 minutes to make.