Which problems do you want to solve with these IoT devices? What should they do? In my opinion existing IoT devices generally replace simple, proven systems with complex and abstruse ones.
> I could for example setup one to automatically
> power cycle my cable modem and router
It's turtles all the way down.Previously I had an Airport Extreme that was fantastic but didn't have UPnP which is more or less required to make our two XBoxes work. Right now I have a DD-WRT Buffalo N300 in front, with the Airport running most of the network and the wifi behind it. So far that's been the best solution.