The general advice is that you need to get your airtightness up to a very high standard before HRV is optimally effective. As airtightness goes down (or up as it's measured in air changes per hour per square metre) the effectiveness of HRV goes down.
However, if you do not fit mechanical ventilation, you need to provide passive ventilation, usually via the holes in the walls or trickle vents, to meet building regulations. These can be draughty, noisy and inefficient.
HRV can do much to improve internal air quality as the incoming air is filtered which removes many pollens, insects etc. I'm not sure it'll ever have a reasonable payback time per se but the qualitative improvements are noticeable. Note that HRV also replaces extractors in bathrooms to remove moist air but you can't use it to extract cooking fumes.
Things to watch:
- not compatible with open fires - you need room-sealed stoves
- get the rigid ducting not the flexible stuff
- get a boost function for showers etc.
- get a summer core which does not do heat exchange
- put an extract in your laundry/utility room so you can dry clothes
I don't think the software works correctly with HRV as it applies a default value all the time.
We have HRV in our build from 2007. It's one feature, along with all the CAT5, we wouldn't be without.
Good luck with the build
SSE