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to upgrade boiler or switch to hot water

Ihave 23 yr old McLain Boiler 400,000btu in 320,000out. 3000sf house 2 pipe steam no traps.I insulated attic and dropped btu/degree day 15-20%& (60,000btu/dd to 45,000 btu/dd).I removed 5 burners.An audit showed boiler way oversized.I have a 160,000btu/hr loss

ASSUMING THIS BOILER IS 65% OR LESS EFFICIENT CAN I ASSUME A 90% efficient hot water system would reduce my heating cost by another20-25%?

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