By "vampire draw" I assume you mean the draw that certain electronics continue to have when "turned off", because really they're in a "low-power standby" that maintains things like satellite/WiFi hookups, software update monitoring, quick-start features, etc etc etc.
In these cases, yes, putting these devices on any power strip with a simple on-off switch and turning that switch off is the same as unplugging the devices from the wall; the switch will completely disconnect the "hot" and will not allow current to flow. This can be useful when going on vacation (but if you value those devices I'd really just unplug them, or their power strip, from the wall completely).
Understand this may mean that your devices take a while to power up after you turn the switch back on. The DVR/receiver for my dish TV system can take up to five minutes to reestablish the satellite connection after power to the DVR is cut (unplug, power failure). That's the main one, but others of my home entertainment devices take longer to start up after a power loss. Basically what you have in your home theater nowadays is a bunch of computers, and when you "turn them off" you're really putting them in a "sleep" mode from which they can return to "on" much faster. Turn them all the way off by unplugging them, and then they have to go through the full "bootup" process.