Unfortunately, I know from working on my own smarthome project that the "turn lights on or off based on location" is patented and secured already.
1) I know I thought of this idea so I've got a right to use it.
2) This idea is pretty obvious, it just hasn't had anyone willing to implement it.
Both of which give the implementer a false sense of security. People who've done this once or twice and been hit on the head by the stupid patent hammer, will look around to see if anyone has done something similar, especially 15 - 20 years ago, and if they can create a credible path to their idea which doesn't involve things that are patented. Then they file a provisional patent to be sure they don't get stomped on.
Looks like the Insteon needs a controller but you can have 3 smartphone controlled lights (3x$30 + $99 controller) using their system now for the price of the $196 pledge (which gives you 4 bulbs).
Doesn't mean that it's not worthwhile, just that there may be roadblocks ahead.
[1] http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sec...
[2] http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sec...