high ac voltage destrucive or not?

After reading all the threads about ac voltage these past few months I pulled out my handy dandy fluke meter and meaured about 126 volts ac out of the wall and 128 out of my powervar. For all the electical gurus is this harmful to the electonics or part of the variables in ac delivery , thanks for any help. system consist of pass 350, sfl2 preamp and audiologic dac.
If you're in the US, then the utility voltage will vary anywhere between 114 and 126 Volts - which is normal and the allowable US standard. Appliances with UL listings will operate between 110 and 127 volts with no damage. Also, utility voltage is RMS, meaning it's an average of sorts. The actual voltage at your outlets can be much higher - the peak to peak voltage can reach 170 volts. Your fluke meter is most likely not a true RMS meter and therefore not giving you an accurate measurment with respect to the average or RMS reading. You can call the utility and tell them you suspect high voltage and are concerned and let them make the call. If it was my house, I wouldn't worry.
You're right on the edge of being high enough to cause damage to some gear. Much of this will depend on the individual component and how it is designed.

Keep an eye on the voltage for a few days and chart the voltages and the day / time that you take those readings. If this is a regular occurance or only occurs at certain times, , being able to provide the power provider with specifics may help them to rectify the situation. Sean
In circuit design, a 50% voltage rating increase is typical so there is no problem with 128V. If your components get damaged by it, you know never to buy from those companies again.

Also, upper-level Fluke meters ARE true RMS (beyond model number 77 (or new 177) I think).
Sean - You say that the power company may rectify the situation. You mean they will convert him to DC? ;^)
All AC voltmeters read the rms value of a sine wave, so unless you have seriously corrupted AC coming into your house the reading is accurate.
thanks for all your responses, will power conditioners decreasde the current to 120, it seems the powervar keeps it constant, is this a defect or part and parcel of the same problem.
Nice one, Elgordo! Hysterical!!!
If you have tube equipment, the higher voltage can place your biased tubes close to their operational limits and some of the capacitors can also be at risk. Normally, I would say "don't worry too much" but you willo certainly experience a bit of lessened life expectancy with tubes. Similar to light bulbs, the turn on surges are the most difficult to handle and I would imagine that in your home, lioght bulbs last a bit less than normal. Excessive low voltages can cause simialr difficulties,making motors in fridges and other major appliances work outside of their peak efficiency range. Normally, things are designed to work with about a +/- 10% from ideal rated voltages.
Did you take you voltage readings with a load on the circuit? Especially The Powervar. Turn on all your equipment, then take a voltage reading at the wall outlet and the output of the Powervar. Let us know what the readings are then. Also when was the last time You had the Fluke calibrated for acuracy. It could be off 2 or 3 volts, maybe more.
One way you can usually tell if you have higher than normal voltage is you are constantly replacing light bulbs.

hi jim I just measured the wall outlet at 125.6 and the powervar at 128.2, im thinking the powervar is not working correctly? Is it time for a new power conditioner,thanks