Opinion on suitability of 1200VA line conditioner

I have already read on the forums that a UPS is not ideal for "hi fi" use and one needs an Automatic Voltage Regulator or some such thing.  In Dec 2010 I picked up lightning damage but luckily to my PC equipment only, not the hi-fi.

I've ordered a real nice line interactive UPS for the PC that has 4 power outputs, RJ11 and RJ45 protection.  Standby time will be around 25 minutes.  Now I want something for the hi-fi as well, before I get damage to the components and only then decide to act.  I don't need stand by but I do worry when breakers trip and everything shuts down suddenly (PVR...).

I've come across something that is too cheap to be true, from one of the best manufacturers of UPS' in the world: APC.  The item description is:

APC Line-R LE1200i , 1200VA line conditioner/voltage rugularator - for protection against brownouts + overvoltage - ideal for power generator

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Now if I go the the the APC site, it says this:

The Line-R automatically corrects brownouts (by boosting low voltage) and overvoltages (by
stepping down high voltage) from the power utility service to levels that are safe for computers,
as well as other sensitive equipment. APC’s Line-R provides the highest degree of protection
from line voltage sags and swells, and has been designed for many years of reliable,
maintenance-free service

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And this:

The Line-R is designed for use with voltage sensitive equipment such as a: computer, monitor,
inkjet printer, scanner or fax. It is also designed for use with home electronics (TVs, stereos,
CD players, etc.

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The item looks like this:



Source: http://www.apc.com/products/resource/include/techspec_index.cfm?base_sku=le600i&tab=documentation

I'm not exactly sure how to deploy it but I'm guessing I would need to modify all the power leads to/from my components?

I want to use it for:

1. Samsung 50" Plasma
2. Onkyo AVR
3. Sony PS3
4. Pace HD PVR

Any advice would be appreciated - I have not found too many people that know about this and everyone thinks a surge protector (Ellies) is good enough...