First, check your BIOS and see if you have a setting called "Restore Power after AC Power Loss" or something to that effect. Essentially what that means is that when there's power at the PC's plug, should it fire up your PC?
Now, doesn't that mean you have to cut power to the computer while it is running, you can't use normal shutdown?
Smartstrip, I think, would be the safer route. Also note some computers have a power on keyboard in bios too.
You don't have to cut the power while running. I use mamewah, which will let you map a button within mamewah to exit and shut down windows.
My setup is like this:
Regular powerstrip - Hack into power cord of the strip and add a switch that breaks one of the wires (black or white. white is the best choice). The switch is a toggle style, like you would find on a typical arcade cabinet for power. It needs to be rated for household current.
Set computer bios to come on at power failure. - This setting works even when the computer is already turned off. The PC senses when the power has been cut at the power supply, like you unplugged the supply. If it loses power, as soon as power comes back at the supply, the computer boots.
Plug all your components into the powerstrip and turn the switch on the powerstrip on and leave it on. - now you are controlling the powerstrip from the switch we hacked into it above.
Flip the switch and all the components come on, and the PC boots

When shutting the system off, I have a button mapped in my frontend that exits and shuts down windows. Then I just reach up and flip the "hacked into the powersupply" switch. This tells the PC that it has lost power, which sets it up to come back on the next time.
There are no hard shutdowns, the hack is extremely simple with a few wirenuts and some HD lamp cord. The entire costs was about $8 for a powerstrip, lampcord(for the run to the hacked switch), and some wirenuts.