You are probably on track with the old thermostat getting lazy.
A 10 1/2 + year old GE is probably not worth investing $180 + into although I may be wrong and the thing may decide to go on for 20 more years. I wouldn't bet on it!
Big Box? I'd avoid the blue one that is a horror story in it's own right...
At Orange you can take a chance on another GE maybe the luck will be similar and maybe not.
I'm a fan of Bradford White myself...
Since your last water heater they have come out with FVIR (Flammable Vapor Ignition Resistant) water heaters.
Bradford White & Lochinvar share the same system design and win the race hands down!
Rheem, Ruud, Richmond, & GE share the same design and come in second place
With the AO Smith family (AO Smith, American, State, Reliance, Apollo, GSW, Polaris, and John Wood, also includes Whirlpool label ) not finishing the race...





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