Monday evening the power went off and on at least 8 times in 10 minutes as the breaker at the substation kept trying to reset. Unusual as they usually only try three times before shutting off the power. Anyway I was worrying about all of my electronics as I was watching the game on my new TV with the cable box attached and the surround system fired up. No problems what-so-ever. I guess my whole house panel surge protector and my premium power strips did their job. Had the panel protector in probably 12 years and both LED's still light up. I understand if you take a hard hit, they are designed to fail. So far, so good. It is an inexpensive (under $50) Intermatic I picked up at HD.
At church, we needed $7000 in repairs to our elevator controls after a surge this summer and we lost a $5000 duplicatior last winter, so we are installing 3 phase surge protection for the elevator and premium strips for the office and other electronics.