SmartTags for profiles is nothing new...

...at least for me because I'm using Llama for long time now: https://market.android.com/details?id=com.kebab.Llama&hl=en

No need to manually set anything eg if I'm home and it's 8PM then it goes vibration only to let my soon-to-be-4 princess sleep, if I'm at work and in my office then ring volume decreases, if I step out it increases, if I've stayed in the office late and on the way home I stop by for my favorite pasta then it picks up the wifi there and turns down the volume etc etc.