Hi there,
This probably wont help your difficult decision but I think its good feedback .
My parents have a 180 litre Low Pressure Copper hot water cylinder, it is a wetback model. It runs on a pressure reducing valve, has a booster which is a smaller sized wetback installed in a small free standing fireplace (Magnum P-100). The house is single story where setup is located but supplies hot water to an additional level at the end of the home (upstairs bathroom) so the vent pipe is reasonably high with stay wires etc. The HWC is elevated about 900mm on a tank stand off the floor to enable the booster wetback system to work. The cylinder is located in a cupboard which is the kitchen/dining room. Here they have a small free standing log burner installed next to the cupboard with what is known as a booster wetback installed. Apparently they are smaller and dont heat the water at a rate that a regular wetback would which would cause the cylinder to boil.
What I am more interested in sharing is the fact my father has had this log burner in the kitchen for 13 years, it is still fully operational, he has kept it in good condition and has had maintenance done on it in that time. He has been heating 100% of the families hot water needs every winter for the last 13 years on a low pressure 180 litre wet back hot water cylinder. Since about 2000. The cylinder was also replaced at the time the log burner was installed so is 13 years old.
He turns the power to the element off for the entire time and re-lights the log burner every morning when he gets up during the colder months in the North Island. He did this long before my 11 years in the trade as a plumber ever commenced (2003) so I have had no input on this at all. Consider it a case study if you will, and I am simply providing some interesting notes based on my observance of his system over the years. What you ultimately decide is really up to you.
His wetback pipework, cold water inlet to cylinder pipework and cylinder outlet pipework is all copper in the area around the cylinder so there is no risk to damaging pipework from the uncontrolled heat that it may become subjected to. I have asked him about his savings over the last 13 years this morning via a phone call and he said he saves on average of 10Kw per day when using the log burner and that figure is his saving just for not using the electric element. Based on a unit figure (1Kw) of say 25 cents that would be $2.50 per day, $75 per month, $375 over 5 months saved just on hot water heating.
Savings are obviously much greater as it heats the entire house as well, and other sources such as electric oil heaters, heat pumps etc are not needed. They also benefit as at the end of the home the bedrooms are in the upstairs area where the bathroom is. Heat rises so its a good system for their home as bedrooms are automatically heated if the doors are left ajar.
I have asked him before in recent years if the cylinder has ever boiled (due to its smaller size & on a wetback) and he said it has once but that was because he was testing its limits. Minimum hot water, to no hot water was used for 1.5 days with the log burner burning continuously before the cylinder started to boil. Keep in mind the log burner this was achieved on is on the smaller end of the scale of log burners (Magnum P-100) and is running just a booster, not a proper wetback although some people dont know the difference. They look similar.
It is a 3 bedroom family home with an additional office downstairs that has been used as a bedroom before also. For the last 9-10 years he has lived there only with my mother as my brother and I have left to begin our own lives so I dont think there hot water usage has been all that great and yet the cylinder does not boil. Dishwasher runs on cold water (heated internally in the appliance), washing machine, usually cold water washes I believe, etc etc. His opinion is his system can just manage to cater for there hot water needs. Obviously if you need more hot water for more people in a home, the bigger the system that will be needed. Currently 3 people are benefiting from using this system at the family home and it copes well.
The only difference I would like to explain between what you are potentially considering and what my father has achieved is that his hot water cylinder is a low pressure wetback model designed for use on a wetback. I believe it is a Rheem and was installed in 2000. It has both wetback pipes entering the bottom of the cylinder and as you know, the pipe coming from the wetback carries the hot water back to the cylinder and then up inside the cylinder through a copper tube and disperses it at the top of the tank.
If his hot water cylinder has a thicker copper lining for the tank as it is a wetback model and enables it to last longer over a regular standard model, that i do not know. It may be the same tank just with extra ports but it also may not.
Have attached a photo, this is not his Magnum P-100 but it is very very similar looking.
Hope this proves interesting reading.
Cheers