Just received my 0.2m cable.
It works perfectly with my iHome; the "iHome" playlist wake feature works identically to my iPhone 4 with its native dock.
I also noticed how incredibly tough the thing is. Thick cable, heavy duty lightning connector; it looks indestructible. I guess they figured a $40 accessory needed to be durable or they'd have a lot of angry customers on their hands if it went bad.
I wish it were a tiny bit longer, as the phone has to sit awkwardly on top of the iHome instead of next to it on the nightstand, but that's a minor gripe. The cable seems like it will be a good travel companion when I come across docks at hotels and such while traveling.