+1 for Tasker.

And to Locale above, Tasker actually has support for Locale. The things you can do with those two apps combined is absurdly awesome.

Have you noticed any significant battery drain? I'm not using either because of my already short battery life.

Locale sucks battery quite a bit simply because it's a location tracking app, with all of the consumption that entails. It works for me though because my phone, if not attached to me, is charging on my desk at home or at work.

Tasker much less so.