The paging system works for cordless phones because they're ON at all times -- they always have to be ready to receieve a call.

I don't believe a video game controller is always on, which leads to very long battery life (cordless phones have terrible battery life).

Work through that, and I think you might have a great idea here.

This is completely doable. Like the key fob for your car door locks. The main control set attached to the TV would have a "Location" button to press like the key fob for the door locks.

A separate ultra-low drain circuit in the remote device would do nothing except pull in a high gain MosFet to sound a buzzer. It would work even if the batter was too low for the remote device to work because of the low current needed.

Unlike a wireless phone handset, most of the wireless remotes are transmitters only - they do not have any kind of wireless receiver built into them. Thus, to enable this function, you would have to add a wireless receiver circuit to each remote, and add a wireless transmitter circuit to the console, at which point, that's suddenly quite a lot of extra money for the feature, and console designers may think consumers will get more bang for the buck if the money was spent improving other parts of the system.

There are little key-fobs that do this though, designed to be attached to things that you lose. This third party solution (buy the extra feature yourself as a keyfob if it is important to you and attach it to the remote) seems like a reasonable compromise.

If you have a wireless remote with a wireless rumble feature (vibrator motor), then the remote has a receiver, however if it has rumble, then it effectively already has a find-me feature - have the console make the remote rumble :-) However I think wireless rumble remotes are few and far between, due to the crappy battery-life that results.