It sure will! And it'll demolish my bank account "on the fly" too!

I'd LOVE to get a tankless heater, but cost is the #1 issue. Not only do they tend to run at least twice (usually three times) what our 75 gallon heater cost, they also don't deliver enough hot water for our shower. We did go a bit all out on our master bath, with four body jets, rainshower, and handheld shower. Even with just the body jets there isn't a tankless heater on the market that can keep up, particularly in the winter.
It's possible to actually combine two tankless heaters, but then we're talking somewhere in the range of $4-6K, and that's just for parts.
Granted, some of the money I'd spend on a tankless would be made up in energy savings, but the initial investment is SO high.