Wall mounted heat pumps are definitely not great to heat your house because of their placement higher on the wall means that your head is getting blasted with hot air while the air at floor level remains cooler. As a retrofit for a house with electrical heating it's just not as comfortable.
As central heating in a newer construction or as a replacement for an older gas furnace it is definitely awesome as it reuses the existing ducting.
Finally the "heatpump doesn't work in the cold" is definitly mostly a myth. There are several models that are spec'ed to go all the way down to -25C.