Actually has a use, when one needs the occasional relief from the noise. I never thought I'd use that setting, except in my office where one of the units is just way too noisy.
From my experience though, in that mode the A/C is off like 90% of the time!
ETA: your fan might help distribute the cool are around so that the A/C doesn't turn off as soon as it cools off its own daled amos.