I got it at Home Depot.
It has Hot, Room temp, and Cold
It's not "Instant hot water" but it has a small hot water tank just like the cold water.
So you have instant hot water till the tank fills with cold water, and it has to heat up again. But it's a good tank for like 4-5 cups of hot water for hot coco, but since I have a cappucinno machine I just told it to turn off ALL hot water and just make cold.
Yes you can configure the water temp for how hot or cold you want it.
AND best of all it has a 7 day timer on it so you can tell it to not make hot and cold water on certain days at certain times.
So mine shuts down at 11:00PM at night and turns back on at 6:00AM in the morning Monday - Friday
Sat On at 8:00AM Off at Midnight
Sun On at 8:00AM Off at 11:00PM
Quite the little Energy Star saver isn't it?
It has a few other features on it too..
It's a VERY neat little water cooler unit. MUCH better than the unit I had from Crystal Water.