I have an ancient oil boiler too and have two pumped radiator circuits and a gravity hot water tank circuit. This allows the (also ancient) controller to route the flow dependant on my preference. Something similar must be possible with yours. Is the bungalow all one level or do you have an upstairs in the roof?
It's all one level mate. The plumber came round yesterday, had a look and listen to it, and assured me it really needed replaced - he said it was miraculous it was still running at all, and that the boiler (as opposed to the burner) was one of the most inefficient ever made, even when new. He's been a friend of the family for about 20 years, so I reckon we can trust him.
The next door neighbour confirmed that it hadn't been serviced in at least the 16 years since the woman's husband left, and that her own husband had managed to coax it back into life a few times since then, but it rattled and banged and frequently just packed in. It's really rusty, things hanging off it, and leaking oil.
I've qualified for the £700 subsidy from the Housing Executive for a new one so, once they've processed the paperwork, that's the way we're going...