A UPS might be a serious consideration if you're using a TV or projector that uses a bulb that requires a controlled cooling off period before it's turned off. In that case a properly sized UPS would provide the power necessary to accomplish this function for those concerned about maximizing bulb life. If this is not you, then you don't need it.
If you live in your own home, happen to be located where lighting strikes are not uncommon (Florida, parts of the midwest, etc.), then you should consider what's known as whole house unit. Those can be installed by an electrician (may start getting pricey), yourself (but you better know what you're doing here), or leased from your local utility company for somewhere around $10-$15/month. These devices are located at the panel where it's close to the earth grounding rod. They're designed to shunt surges to the grounding rod, therebye minimizing the amount that gets into your house. They should also not only protect your incoming AC but the phone, cable, and/or satellite lines. You still benefit from a plug in device whether it lays on the floor or sits in your rack.
The Brickwall device and similar units are based on the priciple damming the surge (storing up the energy) and then 'slowly' bleeding it off whereas MOV based devices act as dikes (not DYKES!) and divert or shunt the surge away. I'm not sure if the Brickwall family of products provides the means to route your incoming cable and phone is so used into the device. If not, you might just want to consider units based on MOV technology such as those from Panamax, Belkin, Tripplite, APC, etc. With these units, the more you spend, the more bells and whistles you get like greater joule ratings, switched/unswitched outlets, 12V triggers, isolated outlets, sequenced turnons, dimmability, etc.
"I've found that when you want to know the truth about someone that someone is probably the last person you should ask." - Gregory House