Yes, the point at modifier works nicely with lights. If you use the technique above to set the position of the camera, you can then save that and return too it at a later date.

Here's an example of the PointAt modifier with 3 lights.

http://www.youtube.com/watch?v=4IGUkXZiCpE

I was origionally using Cognito to drive some hidden cubes. I've swapped to using looping NLA as it was easier to control the positions.