Whoa, glad your house didn't catch fire man!
most of the APCs in the price range seem very week when it comes to surge protection.
THanks man I was actually here when it happened (but I wasn't at the computer). I heard some crackles and then, the smell of burned circuits.. the APC started to throw sum smoke and make menacing sounds -- inside the outlet holes I saw fire- the thing was literally burning inside!
I didn't neglect the thing; in fact I had it checked not long ago, but when I took it to the APC service center, they were working on these huge enterprise units -that have to be transported by truck-, so right then I thought ''dang they're not gonna pay enough attention to my small UPS...'' which is -was- a pain to carry btw.
I bought this because there's always been a 'ghost' electrical problem in my bedroom (that not some 10 electricians/electric enginners have been able to figure out)- a couple of pedals I hooked up died (not mine fortunately

), my Triton Classic got a circuit burned, and a whole pc got fried (3 different components; HD -with the musical work of +5 years-, mobo and RAM). The tech explained to me sometimes very small changes in the voltage from electric outlets sort of build up overtime on sensible electronic components and can be very harmful. That's why, in addition to my Furman PF-PRO R, I got the APC. It has a nice USB-hooked software that shows you those small voltage changes (in real time), reports of incidents. plus other info. My unit worked fine for a year and it was cool to keep on working even when the lights went out, but I wouldn't call that a necessity.
MUCH more important is to have a physical ground (cooper bar buried in the yard and stuff). I for one will NEVER get a UPS again, just power regulators. The batteries on a UPS are heavy-as-fuck, expensive and IMHO, unreliable (just like any other battery, performs superb at first, but then more and more, not so much).