[villagetinker]

In order to provide some level of protection to electronic devices in your house, the protection device (cord, strip, socket, etc.) MUST have a UL 1449 label on it. As mentioned above simple extension cords or spike strips have a UL extension cord label and provide NO protection.
Also as mentioned above, if you get the SECO protection package, you get the adapter at the meter, and around 5 or 6 plug in protectors for various devices in the house. This protection is effective if your neighbors house, a close by pole or tree gets hit by lightning. In those cases, the surge typically comes in by the power lines and these devices will typically suppress the surge.
If your house get struck, I agree with the above, the protection will not help, and I am not sure how well a lightning protection system will help. (I am sure there will be lots of additional opinions on this.)
IMHO, I protect for the nearby lightning strike which has the much higher probability then for the direct strike.

If you get nothing else from this discussion, bottom line (aka cheap) "protection" devices may offer little of no protection at all, make sure your devices are labeled UL1449.