The new ones burn
very efficiently, something like 98% clean so very little CO, it's mostly h2o vapor you see on the windows. Any combustion using inside air WILL suck out the 02, hence the alarm, but it takes quite some time. We had one in our first house in VT that had a big open (look thru) stone fireplace between the open LR and DR and we'd run it for a couple of hours every dinner time so we could eat by firelight... it helped on the heating bills as all of the heat stays inside, and you don't need to open windows if you use it in that way, but you don't want to run it all day or as primary heat. We loved ours, it was great for it's intended purpose.