All open applications placed on main display after sleep
Stay works on Lion. You may be experiencing an upgrade issue. From their FAQ:


  Why won’t Stay restore my windows since I upgraded to Lion?
  
  A number of the interface changes in Lion have affected Stay’s ability
  to match windows stored on Snow Leopard to windows on Lion. If you’re
  experiencing difficulty with a small number of windows, the simplest
  solution is to use Stay’s window linking feature to manually link the
  troublesome windows to their stored counterparts.
  
  If you’re having trouble with a large number of windows you may find
  it easier to recreate your stored windows on Lion.