I am planning on natural gas. Wood is not really an option. At some point in the future I would like to put in a woodstove, but that is down the road and dependent on insurance requirements.
Does having natural gas make this a great plan?
Yes. Natural gas as a fuel source is about 1/4 to 1/5 the price of power. If power were your only option, and you had to go with an electric resistance heat source for your hydronic heat, it would be too expensive to be a good option and in that case a heat pump (while not hydronic) would be a better answer.
Since you have NG...my advice is to spend the money up front for a good hot water boiler that's designed for hydronic along with a zone controller so you can set up different t-stats in your different areas.
When faced with the same choice I went with a 150,000 BTU modulating (it throttles up or down as needed) fully condensing high efficiency wall boiler from NTI....but there are many similar units. My NTI has run since 2006 with no issues.
For the slab, you'll have it insulated underneath with pex coils that will work great.
If you want to use hydronic heat upstairs, I would highly recommend a solution like lite-crete or special subfloor where your pex ends up built into the floor. Some people recommend just looping it between the floor joists underneath and stapling it up to the floor....and I can tell you for a fact, that doesn't' work very well. I had to go back where I did that and install heat transfer plates AND insulate under the pex. If I would have known then what I do now, I'd have used litecrete and installed above the subfloor.
None of it is cheap. Also...you won't have the ducts for A/C if that matters.
If you want cheap? A hanging natural gas unit heater (hot dawg or similar) would be a fraction of the cost. To me, hydronic was worth it because comfort matters and it only added maybe 2 to 5% to the cost of my project, but there's no question it was more expensive up front then other solutions and for heating, it is not likely to be noticably cheaper to operate than a natural gas furnace or unit heater of similar plated efficiency.
Phil