We present new results obtained from the Carnot-like low-dissipation model of heat devices when size-and time-constraints are taken into account, in particular those obtained from the total cycle time and the contact times of the working system with the external heat reservoirs. The influence of these constraints and of the characteristic time scale of the model on the entropy generation allows for a clear and unified interpretation of different energetic properties for both heat engines and refrigerators (REs). Some conceptual subtleties with regard to different optimization criteria, especially for REs, are discussed. So, the different status of power input, cooling power, and the unified figure of merit χ are analyzed on the basis of their absolute or local role as optimization criteria.