I stumbled across this whilst looking for something else and thought I'd update it in case it's of benefit to someone else looking to do the same.
I installed an Ariston Aures 9.5kw in the end and haven't looked back. It's been faultless. The water here is (literally!) freezing at the moment and I'm still getting 3.5-4 L/minute. Perfectly adequate in my opinion. I use less than 40L per 10 minute shower instead of 150L. Not to mention the savings from only heating water when I need it.
The mixer valve was a bigger issue than I thought. Most are thermostatic now which is normally a good thing. The problem is that they adjust both hot and cold flow at the same time - so if the water is too hot they turn the hot flow down and cold flow up. Obviously, if you turn the hot flow down it makes the water hotter! I knew this before I started but I thought the mixer would sort it out. I found in practice that the temperature always gently fluctuates but never too hot and never too cold. I eventually switched to a manual mixer which solved the problem. If I did this again I'd be inclined to try a single hot water pipe with a single tap. The wider you open the tap the colder it gets. I'd obviously have to make sure the flow isn't restricted too much so the water runs cool with the tap wide open.
A flow restrictor is essential. Factory fitted flow restrictors/aerators on taps and shower heads are nowhere near restrictive enough. Open the tap wide and the water is stone cold. With a flow restrictor and a bit of patience it can be adjusted so that the water is always piping hot when the tap is wide open. Yes, if you want the temperature to always be the same you have to adjust the flow throughout the year to account for incoming water temperature but in practice I haven't had a problem with this. I think I've tweaked it two or three times in two years (one of those occasions was today!)
The heater has a minimum flow rate so you have to open the tap quite a way to get warm water - you can't have a trickle of warm water. And if you only open it just enough for the heater to cut in the chances are the flow will drop slightly and it will cut back out. So you basically get used to opening the tap wide every time and if it's just handwashing you find yourself watching gallons of water blasting down the drain whilst waiting for it to run hot. In practice I find I only use the hot water for showering and filling the sink.
Re warmup times I think it's about the same, possibly slightly quicker, than a gas combi. But as I mentioned above I think you waste more water because the flow is higher.
Overall it works fine. I didn't go down this route entirely out of choice - I don't have space for a tank and a combi boiler is impossible/impractical for a few reasons. I would recommend it to someone else in my position but you need to be prepared to understand the foibles.