Here’s an automatic power switch with a twist: Toolmonger has covered a number of such products before, and they all work by turning accessories (monitor and speakers, dust collection vacuum, etc) on and off when the device plugged into the main outlet (computer, saw) is turned on or off. The WattStopper uses a passive infrared (PIR) motion sensor to tell when you’re in the area, and turns things off when you’ve been gone for a while. It’s a different approach that seems well suited to soldering irons and other tools that’re easily forgotten about but might be dangerous if left unattended.
Here’s the great part: The model pictured is discontinued, and WeirdStuff has ’em for ten bucks, which is somewhere between a third and a tenth of normal retail. (Shipping starts around $9.) I’m getting one to plug my soldering station into, though I might press it into service as a trick-or-treater detector first.
WattStopper Legrand makes all sort of PIR-based occupancy sensors and lighting control products, and their site is thick with technical info. If building automation interests you, it’s worth stopping in for a read.