Most 'surge suppressors' act like a crowbar circuit in that they absorb as much of the surge as they can and in so doing draw current, which should make the breaker trip. It's pretty rare that they are REALLY able to block an actual nearby lightning strike (I have first hand experience) but some of them have large 'insurance' policies where any equipment up to XXX dollars that is destroyed will be replaced.

One type device that might actually do the job is a 'full time' or 'on-line' UPS, where the UPS constantly charges a battery and the equipment is always fed from a dedicated inverter, but those babies are pretty spendy. This is NOT the UPS you find for $59 at CompUSA. They are supposed to produce 'data grade power', whatever that is. At least you'd really be isolated from line noise. If you really wanted to get crazy there are systems large enough for a whole house application.