As Scott said, with copper pipe and being mounted vertically above (or below) it ... that is the key.
When mounted off to one side, the weight of the tank and the water in the tank can break the fittings off and then additional support would be required, same goes for PEX systems - additional support would be required.
By the way, I am sure you already have this, but that insulation needs to be 6" or more from the draft hood.
The Watts installation instructions even shows it self-supported vertically above or below the rigid piping, and additionally supported when teed off other than vertically above or below:
http://www.watts.com/pdf/1915356.pdf