I dont' know about Karl, but I have my thermostat set to 40F. Sounds really cold, but I typically work out in my shop in a long sleeve shirt quite comfortably. With the warm floor, your feet don't get cold. This is a big factor.
I am using an electric water heater on off-peak power (~$0.03/kwh). My heating bill is only an extra $50 or so a month.
I am heating a 40x48 shop w/ 16' sidewalls. I insulated the heck out of it. There is nearly 18" of cellulose in the ceiling. The walls are ICF. An effective R factor of 50.
I have considered adding a corn boiler for a primary system, but am having a hard time justifying given the above stated results to date.