A customer of mine had a Monster HTS-5500, that big big big power surge and line conditioner... He was living in his new home for 3 days when a truck of the landscape company hit the temporary AC line installation outside. EVERYTHING that was connected into an AC outlet has died. Everything. Appliances, alarm, clocks, radio, shaver, microwave, water heater, computers, and of course A/V stuff. The HTS cover was melted down. I think I still have pictures somewhere...

At least, the landscape company's insurance paid for replacing everything!

But William David Design is right: a direct hit by lightning = game over for electronics...