Steam is an old system. AFUE isn't really that high, maybe about 82%. A hot water direct vent boiler can go up to 96% efficient. Basically steam boilers have to heat water up to 240 degrees to get steam, hot water is more in the 160-180 range so you spend less energy heating up water. They can also bang if the radiators aren't pitched right. Single pipe systems mean that you can't easily convert it to hot water. Some like them because you get some humidity with it from the steam, but the steam vents are supposed to close when the steam hits and just let out air.
Anyway, for the boiler, there's a blow down valve on the Mcdonnell millers low water cutoff, you let out the dirty water every time you add water. You want to do that on a regular basis otherwise if the low water cut off gets filled up with silt, the float will stop working and your boiler will basically overheat and crack the boiler. One of the dangers of a steam boiler, they don't last as long as hot water boilers. You can actually disassemble the hardware around the sight glass and clean the glass inside. Blowing it down won't clean it once it's dirty like that.