This would be a great option.
I think SensorLock is a great tool when using a navigation app, like OziExplorer. When you do not look on your screen for a while, rotate the device and it is locked. To safe battery life an option to disable backlight and/or suspending the device would be great.
So, if possible, I would prefere 2 options: suspend when locking and disable backlight when locking.