For our bar, I needed a refrigerator which could operate at 10°C in order to serve ale and dark beer at the ideal temperature. Being of the DIY bent, I bought an under-bench refrigerator second-hand and built a simple system to keep it at 10°C.
There is a one-wire temperature sensor in the refrigerator, and a microcontroller switches the fridge on at 10.375°C and off at 9.625°C (via a relay driven by a transistor and separate 12V supply).
This keeps the refrigerator acceptably close to 10°C, although I may experiment with turning it off sooner to try to reduce how low the temperature drops (although this will result in more on/off cycles). The temperature is graphed below (the red lines are the relay on and off points).

My question is: will treating the refrigerator like this shorten its life? Which components, if any, are being stressed by this setup, and how? If it is relevant, the fridge is relatively old and is unlikely to have digital control circuitry.