The water heater in the house I just bought is the original from 2007. It's a tank electric water heater.

I know absolutely nothing about water heaters, but I have seen the new tankless electric ones that never run out of hot water, and I have also looked into the Heatworks Model 3. I ran into it on kickstarter, and it seems really good.

What say ye, CougarBoard? Stick with the old? If not, what should I replace it with?