I will admit I also wondered why if all the latent heat has been extracted you still have water vapour visible from the flue, a small amount yes, but it does seem too much is visible. Some boilers today have Sterling engines which extract even more energy and convert it to electric power and feed it into your house in same way as solar panels. So there must be quite a large amount of energy still wasted by standard condensing boilers.
I would say off hand the problem is size, we look at the old steam railway engine and much of the energy was unused, but with a power station, with condense the steam and form a part vacuum where it exists the turbine so extract much more energy, same was done with ships. With the experimental solid fuel fire using condensing it used a plastic flue pipe and there was no need to keep a fall with the pipe, the heat was removed plus all the nasty stuff in wood burning fires by using high pressure sprays of water.
Other more simple wood burners allow water to dribble out of the flue.
But these are massive units compared with the gas boiler. One of the advantages of gas is it is so easily controlled, but it is all well and good in theroy, as each thermostatic radiator valve closes the return temperature of the water increases so the flame hight has to alter to match, until it can't burn any lower when it goes out. But in real terms there must be a delay in the water temperature of the return water rising and the sensors telling the boiler to reduce flame hight.
However with my mothers boiler plumes of steam points to the sediment trap needing emptying. So it may be as simple as that with all boilers, will be interesting to see what the heating and ventilating chaps say? Is there a name for heating and ventilating guys? Clearly not Plumbers as they don't work with lead, and I don't like calling anyone without level 5 or better qualifications an engineer, even if in USA a train driver is called an engineer.