If you install a new tank type water heater, I am surprised that you drive a car instead of riding a horse. All change need not be feared, some change should be embraced.
As previously stated, not all people can save money with a tankless type heater. Yours saves so much because you're on a relatively expensive fuel and you're high use.
Lets take me (Myself, My Wife and two kids):
I use average 29 Therms of gas per month with a price of $1.01 per therm
My current tank unit is 0.65 efficiency
This means I purchase 2.9 Million Btu of gas but get 1,885,000 btu out of the gas
A tankless has an efficiency of 90% (actually 85% but there are no standby losses).
If I were to use a tankless I would need to purchase
1,885,000/0.90 = 2,094,444 btu of gas which is ~21 Therms
29-21 = 8*$1.01 = $8.08 per month
For a tankless to pay back lets look at price:
Tank Unit $450.00 no new hardware required (I did add a flex and a strap for safety but it wasn't required).
Tankless Unit $1100 for the unit, $150.00 for venting Kit, $75.00 for gas line and accessories, $80 for new copper + solder + new torch to relocate water lines, $75.00 misc new fittings.
Total cost $1480 - 450 = $1030 more
Yearly savings 8.08*12 = $96.96, payback term = 1030/96.96 = 10.62 Years
I didn't know if I would be in this house for 10 years hence purchasing a tankless unit was a waste of money, plus I would have had to buy it on credit.
At the time the home depot credit card was 29% interest and I figured the extra $1030 would take me about a year to pay off. Not a good deal. Even if purchased on a regular credit card at 14% interest this is an additional $140 which delays payback to basically 12 years.
If I invested that modest $1030 in a solid mutual fund in 10 years I would have $2274.28.
I'll let you be the judge of the conclusion.