Think it boils down to how ecconomics fits into the picture and how you are going to address the plumbing/freezing during the winter months.
Here pellet cost took a big jump last yr but was also at a time when fuel costs were high (transportation). Here I don't see much of a diff in price of wood or pellets. On vol/wt basis they are nearly the same. Typ pellet stove is more efficient than a wood stove.
My experience, my stove is about 6 yrs old, never any problem and certainly no failed parts. Never had any problems with my wood stove insert either and used it for about 20 yrs. The wood stove had a large fire box, could handle 24" long logs. It had to be loaded multiple times a day. And with the large blower it had, power was also a requirement. The pellet stove, 1 bag a day at most. No regrets here on changing over to pellet stove and I still have several cords of wood off my place.
The big issue with a pellet stove is the need for a small amount of electrical power. Using a killowatt meter, with my stove runing at least mid speed, power usage is right at 100w. Believe some pellet stoves are available for 12V operation but battery wouldn't last too many hrs. Personally, I have a small, 1kW inverter genset. Even with that small size of a genset I can run the pellet stove, a few lights and a large project TV and still have power to spare. Genset will run 4-5 hrs on 3qt of gas at half load. I also have natural gas which is always available for use in several diff appliances.
Oh, I bought pellets last yr for $165T and $112T the yr before. Will have to see how transportation cost affect pellet cost this yr.