Phil Sherrod wrote:

Temperature of hot water delivered: 114 degrees F.

Your numbers are nice and thanks for posting the info,
however it seems to me 114 is a little on the low end,
with 120-125 being more common and I run my domestic
hot water at 140F.

To complete your experiment you really ought to put an
insulating blanket over the unit to see how your numbers
improve. Ideally you should be able to cut "idle"
consumption by half without too much effort by
reducing thermal losses.