This is a great concept. However, "Phantom power consumption" is way overblown and something that manufacturer's of items such as this want you to buy into. Even the cellular phone market has come along and begun marketing no draw cords. Problem is, that the existing cords don't draw anything unless they're plugged into something. Think about it, what is going to happen to an unplugged phone charger, is the power going to leak into the air? As expected, when I plugged my kill-a-watt into my phone charge without a phone, the draw was 0 watts.
So I just went and tested my current outlet strip for my 32" TV, FIOS STB, DVD Player, Wii console, and Wii remote charger. 23 watts of power consumption with everything off. I unplugged the FIOS STB since that in theory would be an always on device to see how much this would save me (has a bootup sequence). Dropped to 3 watts being consumed. It would take YEARS of constant on at 3 watts to recover the cost savings.
I guess this product really is a YMMV, but in my case, it isn't justified, for any real savings, I can just flip the master switch on my surge protector if I wanted to deal with waiting for the bootup sequences to save a few cents. It would save me $0.05 a day to shut everything down, and less than a penny a day with this product, keeping power to the STB assuming a non use state for the day.