This concept is really little more than a modern way of designing the electrical wiring system for your home to include (in addition to the typical "hot" and "cold" outlets throughout your home) a third "channel" running through one central switch which would allow a homeowner to cut power to all non-essential systems. Popping these systems on/off all at once would likely do a number on your circuit breaker (or even the devices themselves) but I am confident that a qualified electrician could solve this kind of design obstacle.

I would like a button that closes all of the blinds in my house at night and opens them in the morning.

yup - "ghost currents" (or something) as they are referred to i think. this is a neat idea... will have to look further! thanks. =]

I've read many articles which claim that up to 10% of your monthly electric bill goes to powering appliances and home electronics that are in standby mode (and displaying those little red LEDs that make you think the device is off).

I don't get how this works, but the idea appeals to me.

haha convienient for someone who's lazy like I am!