My 1020 came with our new home in April 2005. Sometime in the last year, the timer quit turning on automatically. It took awhile for me to notice this. When I took the dial off, I discovered that there are two small springs inside, one to manage the off-cog, the other for the on-cog. In my case, the on-cog spring had broken, breaking the auto-on feature.
The spring is too small for a unit that is on 24 hours a day, 365 days per year. And this in not an inexpensive unit. The spring is what I would expect in a a cheap $10 switch, not one that lists for $70 and sells for $40.
Nov. 2010 - update - I contacted Intermatic via their customer service e-mail, and they quickly sent replacement springs. Now all is well. So I have changed my review from 3 stars to 4 stars. The springs were very easy to replace, and in all other respects this is a good product.