Just to clarify, this is a thermoelectric heating/cooling unit which utilises the peltier effect to transfer thermal energy across a dissimilar semiconductor junction. This is done through thermal conduction on either side of the device.
I like the idea, although it does have a few drawbacks. While TECs have a reasonably long life, they do degrade with use. Also, this looks like a rather small unit, which means that (while it may achieve a temperature differential of 50-60 degrees) it likely doesn't have enough TDP to effectively heat even a modest size extraction. Next, the fan only has a tiny motor, as such, it life will be severely shortened by the added load of the magnetic stirring apparatus. Lastly, TECs offer a very low efficiency (in terms of performance coefficient) in comparison to more conventional heating methods.
Another thing to note is that the addition of rate earth magnets to the system may have a detrimental effect on the performance of both the fan and the peltier device (though I'm not certain about this).
Sorry to throw so many negatives. While I really like the concept, I think I'll stick to my $95 lab hotplate/stirrer (it's only a few more NYC pizzas, after all

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"Laws alone can not secure freedom of expression; in order that every man present his views without penalty there must be a spirit of tolerance in the entire population." -Albert Einstein
I'm not a big fan of SWIM. I mean, I've never met the guy, but any time I hear about him, he's doing something sketchy.