I agree that in many homes, the bother and expense is not at all worth it.
I'm a little surprised that you are down on the Air-to-water Heat pump. I hear the Geyser is a great little unit, and there are others for more aggressive applications. This application is gaining traction, albeit slowly. I am not a professional, but as a layman I am getting very interested.
In my case, and for folks in my kind of situation, FP heat to Water seems like the holy grail. For instance, my property is 3 story 4000' sq. Dutch Colonial w. nice brick veneer in Winnipeg. My heating bill is not funny. Yes, I am constantly upgrading insulation, but now I'm paying extra attention to heating plant and hydronic distribution. I am big on wood heat as a lifestyle, and see a glimmer of an economic argument forming via heat pumps to invest aggressively in wood heat.
Currently 2 Masonry FP's on 1st floor, Both on left side of house. Many French doors, 7 bedrooms, NOT open space planning, at all, and with 6 foot 1/4 sawn oak wainscoting all over and red 1/4 sawn oak floors, there won't be any new air ducts happening. My neighborhood is full of houses like this, and we pay way to much to Gas company.
I am preparing for conversion to Radiant Floor heating from Cast Iron Rad's. The lower water temperature and zoning is highly attractive. I will soon invest in modern modulating Gas boiler and indirect HW tanks.
Now I am thinking, if well designed, I can heat the entire home in winter with the heat from the FP's, largely converted to hot water though the Air to Water heat pump, distributed via PEX to all heating zones (and snow melt applications, a very big plus here.)
If I install proper Inserts w/ blowers into both MFP's, they will cook us on one side of the house. I _have_ to move this heat. I can distribute some heat to rest of 1st floor with Air movement, but 2nd and 3rd stories are a bust (largely) as is basement.
Installing WB inserts (Likely Don-Bar) into MFP's with Ash dump blowers and reversible fans is being investigated. Negative pressure and healthy flu is biggest concern, but I think we have the problem it licked. Blower fans will reverse on Temp. reading in FP rooms reaching target. Air from other rooms will be supplied by some existing venting (and rooms are 600 and 700 sq. feet with high ceilings.) We should be good on the flu's.
If we can divert heated air directly from FP's to Heat Pump, the efficiency of Heat Pump will go way, way up. So much so that, if my math is correct, a fairly modest HP unit can provide DHW (year round, a very big plus) and much of winter's Hydronic heating at low temp.'s for the entire house.
My heating engineer friend said 'dude, why not a hydronic heat exchanger right at the FP'... we all know why not (I still need insurance.) But hot air, via the heat pump, this my insurance company will not be able to nix.
So the upshot is that, by diverting the excess heat from the FP's to the heat pump, the 'why would you heat pump hot air that you already paid for..." argument is solved.
Definitely poke holes in my plan if you see them, or, if you like this idea, feel free to add notions or experiences.