ok, my source of heating my domestic hot water is a oil fired hot water
radiation furnace system.

my problem is it takes way too long from the time I turn on my hot water
taps to the point where i actually get hot water. The furnace has to turn
on, water has to flow though the coil in the furnace and then flow upward to
my taps. What I want to do is put in a non-heated storage tank (about 40
gallon) right after it comes out of the furnace. So when I turn on the hot
water taps, it immediately comes from the storage tank, as it gets filled by
the hot water coming from the furnace.

The tank would obviously be insulated very well to keep in the heat. Temp
of water going into the tank would be about 180-190 degrees.

Does anyone see any problems with this setup? Have any suggestions or
comments? I'm just throwing this idea out there.

My storage tank is an old oil fired hot water tank.

Thanks,
Steve Cornick