a monster power strip is a complete waste of money. you can get equally performing products for half the price.
a surge protector will only protect your devices from a power surge. it will not protect against brownouts or blackouts as both situations could potentially cause issues.
a battery backup can, however having one that can power all of your equipment would be expensive. i have a $300 model and it can only power my pc for 5-7 minutes. that isnt counting my 40" tv, ps3 or $1500 sound system. i have everything on a surge protector and turn everything off (the surge protector too) when power keeps flickering.
i dont think brownouts or blackouts are covered by powerstrip warranties. however they might be on ups warranties. something to look into.
at a bare minimum you will probably end up spending $300-500 on a battery backup that will only last a few minutes if you go that route. having an LED backlit display will lower your power demands so i suggest going that route.
A surge protector would not help you and their effectiveness lessens with time. You would need a battery backup or voltage regulator to provide some protection against brownouts and power up from blackouts. If you go with a battery backup take a look at the APC units. Since you are mostly concerned with protection you will not need a lot of runtime before the equipment turns off.