Buy.com has the Ultra ULT31502 1000VA 600Watt UPS AVR Backup System for $88 - $20 rebate [Exp 9/11] = $68 with free shipping. Features protects up to 4 Devices at Once, energy saving function, USB communication port.
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I love how this protects 4 devices at once; chances are you'll need them protected at one time and not selectively at different times.....
#1, I don't know about that. One could have localized brownouts.
Only thing I think it's missing is something to protect your cable line coming in. It's huge, though, and will definitely keep your workstation/server running for a while.
how good is this UPS?
This will burn your house down. Ultra is a value brand.
A Belkin UPS of 1250VA, 680W is ~$130 with 8 ports (no surge protection only ports, they're all battery). This has 4 ports, but half the price.
It probably outputs absolute baconnaise. I'd stay away from this.