A ton of wood pellets can be purchased for aprox. $200, that brings down the cost of each 40 lb. bag to around $4.00. A bag of soft-wood pellets contains aprox. 8,000 BTU the equivalent of 2.5 gallons of heating oil or 3.75 gals. of propane. The wood comparison would depend on the species and moisture content but a ton of pellets can be stored in 30% of the space a ton of cordwood can due to higher desnity.
I based my data on 8500 btu per lb of pellets and an average of 20 Million btu for a full cord of wood, which is very conserative. The price in Canada is way more than in the USA for the pellets. I still say if you have the room the normal wood is better since you can burn any wood you can get , which is easier usually than pellets.