I use Tasker, and usually it doesn't even show up in my Battery stats. In order to see what it's using, I have to use some other tool (I use System Panel). Even in those cases, it is extremely low.
I only have one location based profile though. The others are based on something else (time of day, states, variables, etc...).
I swear by it because it gives me a way to customize my phones behavior in some situations... not just turn off WiFi. If all you want is a program to turn off WiFi when you leave a certain area, then Tasker is probably overkill anyway. It's complicated for a non-technical user to grasp and appreciate. I played around with "Setting Profiles" (by probeez), and it looks pretty straight forward (comparatively speaking). Though I can't attest to how well it works.