Last night as I was doing my rounds before bed, I peeked into the garage to discover that there was water flowing from the water heater out onto the garage floor. Never a good thing, but even less so at 9:30PM. I rushed to turn off the water to the water heater, and that seemed to stop the leak for the time being.

Spent the next day draining and removing the old unit, and purchasing a new one and installing it. Had to take an emergency day off work, but I managed to get it all done and actual hot water coming out the taps by about 3pm. Here's the new unit. Total cost was around $550. I could have elected to get a smaller unit (this was a 65Gal), but that was the size that was there. In hindsight I should have gone with the 50gal unit I think. Oh well, its done now. At least this unit will save us about 30% on the electricity that the old one used.