Spot-heating, especially within a leaky building envelope utilizing expensive heat sources (electric resistance) is one option. But it's hardly the only one, or the best. For northern climates, taking a whole-system approach to home/structure design gets you a tremendously greater payoff in terms of energy savings. Among the most powerful demonstrations of this I've seen are Thorsten Chlupp / Reina LLC's experiences…
On hot water bottles: the energy spent boiling that water is likely comparable to the energy an electric blanket on low power would use.
Don't worry about energy consumption; it's negligible for the hot water bottle, and for the electric blanket as well, especially compared to keeping your house heat up high at night. Not really worth debating, though do note: the hot water bottle has a fail-proof, gradual, automatic shutoff, it fits any size bed, requires no electric outlet, requires minimal storage space during warmer months (so you can have an extra for guests), and has an initial investment of, like, $4. :)