We’ve finally found a power board that does what we want!
The Smart Home Theatre Power Saver power board from Mort Bay. We found ours at Bunnings
It comes with an infra-red sensor that learns the “off” command from your remote. It then waits 60 seconds and if the power consumption of the devices connected is low it then turns them off at the power board. It also has 1 outlet that is always left on which we use for our PVR.
It is nice to hear the little “click” and see all the red and green stand-by lights turn off.