Going with a heat pump instead of a central air unit shouldn't cost a whole lot more. When the central air on our NC rental property died a few years ago we replaced it with a high efficiency heat pump at only a moderate premium on the equipment cost. The renters got a real break on heating costs since the previous central heat was resistance electric!
In early 2010 we replaced both the furnace (LP) and central air unit on the 16 year old, 2700 sqft house we bought here in Roxboro NC with a high efficiency heat pump & high efficiency LP furnace. This past heating season required only about 150 gallons of LP, compared to the 450+ gallons used in the previous season. It would have been less, but the thermostat secondary heat trigger point was initially set around 30 F. I reset it to 20 F part way through the heating season and the heat pump handles that with no problem. For us, electrical use costs for heat & cooling are roughly equivalent, with winter & summer peaks being about the same.
My personal feelings are that a heat pump with LP backup is one of the most cost effective & trouble free combos (assuming Natural Gas is not available) a southern homeowner can put together. A secondary heat source other than resistance electric (like LP), is a good idea & should pay for itself in short order in terms of savings over the cost of resistance electric if you regularly have temps below 20 F.
Nick