Yes, but the inductor would have to be impractically huge to satisfy any sustained current demands in the real world. Richard Grey's "power station" uses this technique, but the current it stores is miniscule compared to what a power amp needs to meet the demands of heavy and sustained bass. The storage time for an inductor is exceedingly short compared to the length of time a power amplifier needs peak current to replenish it's storage capacitors. A CD like my organ demo with 16Hz bass that lasts for seconds at a stretch would suck the power from such an inductor in milliseconds.
Ferro resonant power transformers are another method to regulate AC voltage, but these have the disadvantage of very high distortion of the AC waveform and high acoustic noise. Unnecessary distortion on the AC line is something that is best avoided at all costs since the distortion harmonics can creep into the audio circuits of associated equipment.
The best insurance is to simply buy a power amplifier that uses very large storage/filter capacitors and a power transformer that has the current cabability to keep them charged. DC is easy to store with capacitors and batteries - AC is next to impossible to store in any practical quantity.
Dedicated 20 amp outlets with good house wiring is a must for high current demands.
[This message has been edited by soundhound (edited March 13, 2004).]