Beepster
@Robert... I completely agree but the elements do run hotter so (and I may be wrong because I'm no mathematician) having the tankless elements running the whole time while waiting for it to come out of the fixture would likely use more energy than a tank... but obviously the tank will use far more energy maintaining it's own temp in the long run. So in low usage homes that long run wouldn't be such a big deal but in a home with a large family in it it might make a difference. So yeah... use a big tankless for the main plumbing stack and the smaller point of use unit for fixtures further away. At least that's how I was taught to do it.
The tankless elements(or burner) use zero power if water is not flowing through the unit. That's the whole idea, really.
It only fires up when hot water is needed. A normal gas water heater is rated at 40,000 BTU's. this is a fairly constant usage.
A gas tankless water heater needs 200,000BTU's when it is running. While this may seem high, realize that this sort of demand is limited to maybe 20 minutes out of an average day. The temperature of the water is increased 90 degrees while passing through about 15" of pipe in the unit in a matter of seconds.
For a large family, a properly installed tankless unit is sweet. You can take five showers back to back, and the last person has hot water. Not so with a storage tank.
fwiw I am a 15 year plumber, trained in tankless installations. They are not right for every situation, but can be gold when they are.
Jbow, a recirc system may be just what you need.
It will maintain hot water to the most remote bathroom if properly installed.
It is most suitable with a storage tank,but it can be done.