IMO, coming from a Blackberry 8310 (and before that the 8800, 8700, 7290, 7100, 7230 and 6230) there's nothing exactly like profiles on the BB. There are apps that come close but no way to centrally:
1. Manage all audio, vibration and LED alerts in one place
2. Quickly switch from one profile covering all those settings to another
3. Add custom profiles in addition to the delivered ones (e.g. Normal, Quiet, Loud, Vibrate, Phone Only)