Thank You everyone, you have been great, and sorry for not replying for a few days had a few curve-balls to deal with including a family bereavement.
The system has totally died I'm enjoying the cold showers :( and have gained appreciation for having hot water.
So far I have been quoted $3.5k for the Tank solution installed and I don't believe this is the twin element version, and I'm getting a second guy to pop around tomorrow re the Continuous hot water using Gas he has quoted $2.5k over the phone fully installed including Gas for his side and an additional $300 he believes for running external power connection.
A number of the guys at work are saying get Gas.
Sidestep - I asked about your hybrid system and it seems it may not be in NZ I googled it RH180 etc. then looked at Rinnai NZ site could not find it.
I'll let you know how I jump but thanks again you have all been really helpful.