If you've never lived in Florida, you don't know what REAL lightning is like.
I used to be a sound engineer, and I can tell you stories. Believe it or not, equipment that is NOT plugged into to anything can still take lightning damage. A near strike produces a huge Electromagnetic Pulse (EMP) that can damage equipment just by inducing a current through an electromagnetic field.
I used to have a big problem at Hialeah Race Track - any equipment left in storage in any of the smaller buildings would be damaged by lightnign during the rainy season, even if it was sitting on a palette in the middle of the room connected to nothing. We had to convince people to haul the equipment back to the main building for storage.
First off, surge supressors are nothing more than insurance. If you take a direct strike, NOTHING will prevent most of your home's electronics and appliances from being damaged. Might even burn down your house. A direct strike will go right through a surge suppressor like it wasn't there.
The best protection from a direct strike is a lightning arrestor system. I've debated installing one but it's very expensive. Unlike popular misconception they do not take a strike and ground it - they instead disipitate ionization. Lightning follows an easy path, and ionized air is a conductor.
Fortunately most lightning damage is not caused by a direct strike. It's either an EMP pulse from a near strike, or it hits a power pole causing a surge in the power, phone or cable lines.
A surge supressor will only sink as much power as it can handle and then it'll blow, allowing any residual energy to pass through. You can still take damage but the hope is that most of the damage will be taken by the surge protector.
In my case the surge was probably not on the power line - it either came down the cable TV line or it was caused by an EMP pulse (and since one bolt struck right in the front yard, EMP is very likely a large culprit).
Except for the caller ID in the garage (which was probably damaged by an EMP - the phone cable is strung out to the garage on a 200' cable in the air which acts like an antenna), all the damage was on the network. I suspect it came down the cable, nuked the router which in turn nuked the switch and the one NIC. It didn't damage the cable modem, but the 3Com modems they use around here are legendary for shrugging off lightning strikes.
I did not have a surge protector on the RJ45 patch between the cable modem and the router but I put one on there last night (I had two on the shelf). Main reason I didn't use one before is because APC PNets are expensive they're a pain to connect (they don't plug into an outlet - you have to conenct their ground wire to a good ground).
Remember THERE IS NO PROTECTION FROM LIGHTNING! Only insurance. Use surge protection (and don't forget that the phone and cable are two other paths for a surge) and if it's a real bad storm turn everything off and unplug it from the wall.
Only buy GOOD surge protectors (a good one will set you back more than $20) and make sure it has a "Protection" light on it. Always check your surge protectors after a storm to see if the protection light has gone out.
If the light goes out, that strip is worthless - throw it away. It means the surge protector electronics fried sinking a surge.
You can also have a full-home surge protector installed in your breaker panel. They're required by code in Florida.
I'm considering installing one of these which several electrician friends have recommended:

It's a meter socket surge protector, complete with LED indicators to tell you when it fails. Sinks a power line surge right at the meter.
http://www.lbwl.com/resSurgProducts.asp