I'd say that it's more of a "Use this in creative mode to save a lot of time" item for building an amazing city or something.
Something like.
Anyway, there is no need to revive this thread. [This post had no replies since September 14th]
Topic : Way overpowered. You suggested something that is near to creative.
What would be the point of making generators, wiring and transformers if one item substitutes them all.
Endgame (in my opinion) = having a fully automatizated base that automatically produces, processes and generates enough energy to keep itself.
Tier IV+ : Addons
Come on end-game objective is up to you, this is minecraft. This is a sandbox game. Think something which would need insane work\resources and try it.