Watt is typically meaning Watt-Hours, so this device will consume 70 Watts/hour (W/h) at full load, 27 W/h on standby.
Assuming latest HW rev's, given the choice between a 120 and 220 for home use (I've used both in production), I'd go with the 220 myself. 220 won't be as heavily loaded for home use so will consume closer to the standby rating, and if you have a faster connection (50Mbps or better) and want to turn everything on, you'll want the 220.
Watt is typically meaning Watt-Hours, so this device will consume 70 Watts/hour (W/h) at full load, 27 W/h on standby.
Assuming latest HW rev's, given the choice between a 120 and 220 for home use (I've used both in production), I'd go with the 220 myself. 220 won't be as heavily loaded for home use so will consume closer to the standby rating, and if you have a faster connection (50Mbps or better) and want to turn everything on, you'll want the 220.