I wish I had come across some of the other relays as proposed by shannong et al. In hindsight I do not recommend using an OMR-C-112 type relay unless you really enjoy doing micro-vascular surgery. Trying to solder to tiny pins, which are very close together and dealing with heat shrink tubing without breaking the connections etc. was a PITA. And I doubt it will hold up reliably.
An automotive type relay with a harness makes a whole lot more sense.
Other then that the diagrams look identical.
Also - it is worth noting that Smarthome had the ELK on sale for $359. So deals can be had.
12841 Elk Electric Water Shutoff Valve (Hot Deal!) $359.95 $359.95
Thanks EricK - Your explanation of the magnet helped me understand how the relay worked. I sketched and attached a wiring diagram - if the community could scan it for accuracy and comment it would be appreciated - plus I figure a sketch will be helpful to others who follow behind. Thanks - Tony
Folks - I am at the beginning stages of setting up this Elk valve with an Insteon IO controller and relay. Could someone who has done it please post a wiring diagram/schematic? It is not entirely clear to me how to integrate the 4 parts - the power supply, valve, relay and IO Link. Thanks in advance - Tony