My profiles are all time based. almost all based around my workday.
Ex. After 10pm until 8am, I have all sounds and alerts off except for ringer.
During day, I use WIFI and BT, normal sounds
On weekends I only use WIFI, but no BT no GPS and different ringtones.
When on power (AC) I have all on WIFI, BT, GPS and a brighter screen.
and I have a group of tasker profiles for my Pebble smartwatch.
I have an On Call profile that has special alerting triggered that takes priority over other things based on calendar info.
Tasker is what you make it. It's well worth learning to use as you can automate most things.
Current Phone: TMobile Galaxy Note III
ROM: Rooted "stock" NF1 kitkat
Current Tablet: Nexus 7 (Rooted stock)/Microsoft Surface Pro 2