I remember similar devices labeled "Watt-Wizard" being sold about 15 years ago. The premise being that it would restrict your appliances to using only the electricity it needed and would not sit there sucking up power. However any electrician knows that if a device is sucking more juice than required it's got a short, not a watt addiction, so these devices are, in effect, useless for the stated purpose. I think the real benefit would be if you were more aware of how much power some seldom-used appliances use in "standby" mode and you could choose to unplug them when not needed. Now, if such a doohickey could be programmed to actually shut it off when power consumption went to 'standby' levels, that would be cool.