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Peerless ec/ect03 or 04?

Im about to replace a 70+ yr old steam boiler that heats radiators in our 19th century house. Im told I need 220sqft of steam. I also will have new boiler hooked to 40gal indirect hot water tank. One contractor says to use peerless ec/ect03, another says to use ec/ect 04. Ive also been cautioned strongly about using an oversized sytem. Any advice out there? THANKS.
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