For those interested in a financial analysis check
Ask Pablo: Will a "Water-Saving" Hot Water Recirculation Pump Really Save Me Money? : TreeHugger
Bottom line, you would save some money on your water bill but you would spend more on your electric bill. I like the idea of using a bucket to collect the waste to water plants. Also know that the grey water from houses south of 466 goes to a treatment plant and is then used to water golf courses so it is being reclaimed even if it goes down the drain. This reclaimed water is NOT used in the home irrigation but only on the golf courses.