I've used them in my home theater setups, typically 'Monster Power' branded ones. There's a lot of hate on Monster Power, some of it much deserved, and also many people claim they are:
1. Super Awesome, you totally need one (usually in relation to high frequency / video applications)
2. Completely irrelevant, waste of money (should run a dedicated circuit instead)
3. Detrimental to high current devices (worse than nothing)
Hate aside, I find them very useful for providing a single location to power my components, displaying the line voltage and my system's current usage to satiate my curiosity, much higher surge protection than your 'average' surge protector, turns components off gracefully in brownout conditions, power sequencing (turns sources on before amplifiers to prevent popping, reverse order turning off) and looking hella sexy on my stereo rack.
Beyond this, I have no idea what it's doing, if it's claims are true, if the filtering and isolation are really useful to A/V components or unnecessary. There's a lot of shenanigans in the 'audiophile' community, and I'm not sure how much of this is is relevant or just the typical vapid audiophile foolery.
I picked up my last Monster Power HTS 3600 MKII off eBay for $90 shipped, the corners of one of the circuit boards were broken and it was loose but that was and easy fix. They normally go for $350 or so.
http://www.ebay.com/sch/i.html?_sacat=0&_sop=15&_nkw=monster+power+hts+3600+mkii&rt=ncHere's a video by Monster Power on their Power Conditioners:
Crutchfield also did a test, but didn't get into their internals or much of the theory of operation:
http://www.crutchfield.com/S-xrOdb4LZnr9/learn/the-power-conditioner-challenge.htmlFurman also makes a line of power conditioners:
http://www.crutchfield.com/S-NQdh32x6eBg/p_756ELT15PF/Furman-Elite-15-PFi.htmlQ&A: Should I use a power conditioner - video: