I had one of the old Intermatic CA3750 for my pool pump that gave me nothing but problems. It's was on the other side of the house. And while there were ample intermediate nodes this thing would work intermittently whereas other switches sitting next to it, and even battery powered devices in close (some even further than the Vera) worked perfectly.
So, about eight months ago I switched to the GE 12726 and it has been rock solid for all of that time. I happen to think it's a great product and well worth the increased expense. The only issue I had is that for the first few weeks my pool guy kept turning off the Z-wave functionality in the switch when he was trying to turn off the pump for maintenance. That switch is not clearly labeled, and as it was a brand new product I don't think he understood what he was doing. Luckily there is a button on the outside to turn on/off the switch so you don't even have to open up the unit. And there's even a hole for a combination lock to ensure people cannot open it.
As for whether it can control more than one device, I don't see why not (but I am not an electrician, so I could be very wrong, so don't just rely on what I say). As long as both are 220 and you can physically connect both wires, I don't see why not. I believe you can also convert it from a single 220v to two separate 110v switches if that's the functionality you need.