Dang it, had my response all typed out and then lost it....
I burned wood for many years. Enjoyed it. Owned the timber so I've never bought a single piece of wood for burning purposes.
So using your example above, you spend $500 per yr to purchase your wood and then have to process it. You've purchased an additional $2K in equipment that you expect to use for 10 years so there's an additional $200 per yr. We won't even touch the operational costs of your equipment. There are many members on here that will tell you they heat their homes for less than that each year without handling any wood. And we haven't even touched what you spend each year in propane which you obviously use or you wouldn't have updated your furnace.
I'll stand by my statement about wood not being efficient. If you analyze the BTUs of heating product you produce versus the BTUs of heat you utilize in your home and compare that ratio to modern heat systems you'll find wood heat is not efficient.
Various heating systems are now producing incredible results in regards to their efficiency. An example would be the chimney on your newly upgraded propane furnace and what it's made out of? If you purchased an energy efficient system it's using plastic pipe for a chimney. Mine uses a 2" rigid plastic pipe. What does your wood stove use?
So again, we are back to perceptions. I would never claim to tell someone what they should heat with. Just as there are many varieties of "perceptions", there are many varieties of "heat systems".