Ajay, I was in the same spot when I bought my Krell Evo 302 Power Amp (max power consumption - 3.4KW) and 222 Pre Amp last year. Hope my experience is of help to you...
Spoke to tons of people in the power business but remained thoroughly confused with all the jargon, science and tall claims! Finally, I spoke to the Krell technician in the US (he was aware of the poor power supply in India) and he was rather helpful:
1. Power Outage: Needs no protection against as it will not spoil the power/pre amps - I have chosen to follow his advice and have not regretted it so far.
2. Voltage Fluctuation: suggested that a servo stabiliser would be sufficient and cheap. I tried the CVT and online UPS (upto 15KVA). However both tripped off as soon as I pressed the power button on the power amp. I finally bought a 5KVA servo (with no bells and whistles!) and that has been serving me well over the last year. It does make a noise each time there is a fluctuation so I have connected it near my Distribution Board and it cannot be heard in the listening room. The wiring runs internally from the DB to the stabiliser and then to the wall switches in my listening room for the amp/pre-amp.
3. Spike Protection: Was advised against using one as the Krells apparently have built in protection and they may limit the sudden power draw. I decided to be a little more cautious and installed an SPD (Spike Protection Devices) in the DB itself on the phase to which my equipment is connected. These were from Indo Asian. I faced a spike one evening while my system was on. My laptop's charger and a few bulbs blew (they were on an unprotected phase) but my equipment remained fully safe! Now I am installing the SPDs on the other two phases as well to protect the whole house. I have not witnessed any deterioration in the sound quality.
4. Noise Filters: Was strictly told to avoid them as Krell already has full power conditioning circuitry already built in. Followed the advice and have no plans to use one.
Lastly, I have ensured that all my connection sockets are secured well and plugs are not loose to help prevent spikes and shorts.
In all, I spent less than 10K and have not had any problems so far.
Hope the above helps.
I am rethinking my requirements and feel that basically what I want is surge protection,rf and emi filters and stable power between 230-240 at all times.I am not very comfortable with the idea of noise from the cooling fans.If we ignore online ups for the moment,the choice seems to be between doing nothing or opting for the Vertex Servo Stabilizer with or without their surge protector.Vertex is willing to build the stabilizer according to my requirements with filters,obo surge protector and sockets which will directly accept the power cables from the cdp,pre and power.No extension board,no isolation transformer.I would prefer to keep the chain small.Would the direct regulated power from the servo be superior to the double converted 'pure sine wave' power of the ups?Since there is no back up,the equipment would abruptly shut off in case of power failure.Is this kind of shutdown harmful for the system or does it make no difference?