Dennis,

If you spent $40, and got a high quality item like APC or TrippLite, I would say you are protected. What Chris said is certainly true, but the better protectors have a ground test to assure proper grounding in event of a spike. If the lines aren't properly grounded, a red light comes on, warning you to call an electrician.

In theory, this will prevent the spike from traveling up in the ground wire to your components.

Also, be sure that your unit will stop providing power if its surge protection is not working (see Chris's talk on MOV's). Many of the cheap units will continue to send power if the surge protection (MOV's) has been compromised. I know APC shuts off power, can't speak for TrippLite, but I imagine it does as well.

The important thing to ask yourself is How many people do you know that have had equipment damaged? I personally have only known 1 (lightning strike), although I have heard all sorts of horror stories (I tend to not believe stories I read on the internet, too much made up stuff). So, the real question is, is it worth spending a lot of money on something when you can buy something reasonable that has an insurance policy and take a gamble that the insurance will pay off should something happen?

Just some thoughts,

Ed Williams