Heat pump hybrids can be good. 
Totally awesome if you're using them to cool your Florida garage. 
If they dehumidify, they might be nice in a 55 degree Michigan basement too, at 
least in the summer. 
But if they're in conditioned space in the winter, and you're paying to heat 
the air that the heat pump water heater is cooling, I wouldn't buy one. 

Tankless: Tankless gas can be nice, if the water is soft and they don't get all 
limed up inside. 
Tankless electric can force an upgrade of your house's electrical service. They 
run on two BIG circuit breakers, and if your service isn't oversized enough to 
take that in stride...

I'd either stick with a tanked gas heater, or go to tankless and keep it on 
gas, especially if it's in Iowa/MN/MI. 

If it's in LA/MS, at least take a look at the electric hybrids. 

Mitch.

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