We have a large colonial ome in Connecticut with all electric heat. My opinion? We hate it. It seems that no matter how high you turn the heat, you can't get warm and what's worse is when you get your electic bill, be sure your sitting down. We don't heat the whole house, we shut off some of the rooms and keep the house at a cooler than normal temp and we still see $300 per month bills. If we heated the whole house, we'd be paying close to $1000.00. If I could afford it, I'd be into Hydronic in a heartbeat, what we did do is put in a propane log in our fireplace, which has been better financially and is helping us save up some $$ towards a different heat for the whole house.
My humble opinion, go with the hot water, probably more expensive to install but cheaper and more comfortable in the long run.