As I understand it the heat pump heat "feels" colder because the air is below body temperature. I'm adding a good wood fireplace for the cold months to supplement and because I love a good fire. Money in the bank later is appealing because I'll retire in about 10 years.I have both a heat pump, a standard ac unit, and a gas fired furnace. The heat pump cools efficiently and produces decent heat during "shoulder season", however when it gets "cold"; I switch it to emergency and run gas through the winter. With our gas v. electric costs it works out to a reduced bill. Another thing I think gets lost, is that the heat pump, while producing air temps above ambient, tend to feel cooler than gas heat. Might be perception but I prefer the real warmth of a gas or wood furnace when it's cold out.
Concerning insulation I think its a pay me now or pay me later kind of thing. There is a definite payback period then it's money in the bank.