Thanks for the update. I think I understand the problem a bit better. First of all, to raise the temperature a certain amount of a certain amount of water requires a certain amount of energy. I bet that made a lot of sense. The equation that describes this is:
Heat = mass x specific heat x temperature difference
Basically this means that it doesn't matter if you want to heat your water with an electric element or with hot jello pudding you will need the same amount of energy. Certain fluids will transfer heat more effectively but in this case I would say it is irrelevant (this will effect the size of your heat exchanger).
Besides added expense, using another heat transfer fluid will likely mean additional heat losses in your system. However, if the source of heat and the point of use are a great distance there may be an arguement for a more complex system. Another reason to look at a heat transfer fluid would be if your heat source and heat medium are not directly compatible. I won't elaborate much on this but things like skin temperatures, coking, corrosion, scaling could come into place in an industrial installation.
A few words of caution though with heating the water directly. Consider steam/pressurization, scaling of heating elements, corrosion and how this could affect your system. Otherwise, basically what you have is an electric water heater which have been used in homes for decades. In fact, maybe you could retrofit one of these for your situation.