This is what I also do for most gear. My Quad 606-2 power amp does not have a standby function, and the on/off switch is at the back, so I switch it with a sensor power strip. My RME ADI-2 has very low standby power consumption, so I leave that on. The subwoofers are on standby because walking around them every time I turn on the system is a bit of a hassle. The Plasma TV is switched off completely, if only to reduce the fire hazard. Anyway, nothing is kept on at levels above low standby consumption. Until some time ago we had a Samsung set top box for the TV, and that used 75 watt 24/7. It needed a noisy fan to keep cool.... Fortunately the cable company then changed it for a more frugal unit. Since then, we moved to fiber, with an even more frugal decoder.
In general, it pays to investigate power consumption of all gear that is on 24/7. As an example, we have floor heating, with two pumps to circulate the warm water. I had a look at their consumption, and they used 75 watt each, for a total of 3.6 kWh a day. When we had a heat pump system installed last February to heat our home and provide hot tap water, we also ordered new and modern circulation pumps. They only consume about 10 watts each (technical progress does exist). Few people are aware of such hidden energy wasters. Compared to these examples, audio gear is really frugal as long as you don't go the class A and tube route.