Very good points. I weighed all options when I looked into my situation. I am all electric resistance. Electric water heaters. I looked at installing heat pumps, propane, geothermal, and wood. Natural gas is not an option where I live, as is the case for most of us rural dwellers. My preference was definitely geotherm. The ease of use, you get warmth in the summer and cool in the winter. You can heat your water off of it some. Many benefits. However, the up front cost and return on investment (ROE) wasn't there. By the time you approached your break even point (20+ years), you would likely be replacing main components. Not worth it.
The heat pump analysis was quite a bit less expensive up front. BUT, the ROE was still too long. My monthly electric usage wouldn't go down much over my current situation, therefore extending the ROE for longer than it was worth.
My pay off for the stove is 4 years. That's inside the 100% replacement warranty of 5 years for the stove. I'm young, I like to cut wood. The heat quality is far superior to the heat pump or geotherm.
While we're young, the stove is the way to go. In fact, I would still be saving money if I BOUGHT every piece of wood I put in the stove.