I've used one of the gas models for years.It's wall mounted,taking very little space and produces tons of hot water.The only issue is after a few years the pilots and burners sometimes get carboned up due to the frequent on and off.
I think I'll try they electric model if I ever replace it. I think they are more reliable and,while a little more expensive to run....are still a big savings over the standard storage tank.Also,a a good plumber can piggyback them so that you draw the hot water out of your tank before the instant-on unit kicks in.Good luck....I think you'll like it.
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