Mines been running 24/7 since I bought it. I placed it at the left(facing the rcvr) rear hole and have it exhausting air. I looked at the internal pics and the rear port seems the best place to pull air across the broadcom chip and over the power supply.
Make sure you look at the left side, the vents run all the way down the side but there are only TWO openings behind the vents. As stated above, Im exhausting from the back opening and my avg has dropped from 127 to 122 in two weeks or so. I also noticed that the top of the 722 is not very hot over the PS, before it was pretty warm. As soon as you stick it over the back opening, youll feel the hot air its sucking out.