When we moved into our house in 2003, it had a gas fireplace insert and a gas furnace. The first winter, we filled our 500 gallon propane tank in October, January, and march. We used approximately 1200 gallons of propane that first winter. We installed an Avalon Astoria free standing pellet stove that summer. The initial cost of the stove was quite pricey, but it has more than paid for itself. It is our ONLY heat source now and even with a ton of pellets costing $200, it is still cheaper than propane. Our house is 2400 Sq Ft, and the stove does an adequate job. We did put a small convection heater in our bedroom for when it gets -20 (or worse). The ash pan on my stove needs dumped about once for every ton burned. We usually burn between 5-6 ton a year. And it is convenient to take the trailer to the store, have them load an entire winters worth of heat on it in 20 minutes, strap it down, take it home and use a skidsteer to stack the pallets in the garage. It literally takes me all of 2 hours. Beats the heck out of cutting and splitting and stacking firewood, and a lot cleaner than coal. As for needing electricity, that is true, but there are a few options if the power goes out. As stated above, a small generator is more than enough to run it. Also, a single car battery and inverter will run it also. My stove actually had the option to buy the battery backup kit (which I didn't).
However, a good quality pellet stove is worth the cost. I traded for a small, cheap pellet stove a few years ago to put in my garage. I had a pot bellied stove in there for years, but the convenience and heat output of my pellet stove in the house made me want to "upgrade". The cheap stove didn't put out enough heat to melt the snow off my truck if it was below zero outside. I have since replaced it with a gas furnace. I may look into a bigger BTU output pellet for the garage in the future.