Interesting that you all report about wanting to go tankless. That is what we have now and hate, hate, hate it!!!.
It wasn't bad when it was new, but now that our home is 15 years old. The coils have slowly built up deposits and we have very little hot water. I understand that this is typical. It's a cheap way to go at first but certainly doesn't last long term.
The cost of replacing the coil in the tankless is more than going for an electric water tank. Considering the price of oil now electric may be cheaper since we can don't need to burn oil in the summer months just to get hot water.