This is exactly what I was talking about and have done it on two bikes. The F4i turns off the running light on the side that is flashing so it works perfectly with two wire LED's or a one filament bulb.
I moved into a 1222 sq ft ranch in Nov with an awesome 80% gas furnace and the highest bill I had was $200 for gas and electric ($150+$50). Temp set on 65 which equaled 67 on my new programmable thermostat.
I pay $265/yr w/ SF with $100/$250 deductibles. Progressive wanted $2200+ for the same coverage. I now also have two cars and house with them. I walked in with a receipt for getting a car towed and they cut me a check right there.