If you put the 8 gallon Ariston AT THE MASTER BATH then you don't need the recirculation system. The small amount of water in the supply pipe mixes with the 8 gallons in the Point-of-Use heater to keep the temperature up where it is delivered and the tankless heater will supply the makeup.
Avoiding the recirculation will avoid the constant loss of heat due to recirculation of hot water from the heater. Because the objective is to keep the water in the supply pipe hot there will be heat loss from two pipes that must be made up by electric heating.
The recirculation pump and pipe are unnecessary.
Keep it simple. Skip the recirculation!





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