In my opinion, no. Take a look inside. Few parts and some wire. Spend your money elsewhere.
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I was picking up fan noise from my UPS at extremely high volume levels listening to low music passages and isolated the UPS by getting it off the floor.
I agree, as the previosu poster said, there is NO difference in sound, however, where I live we are subject to peaks and dips in the mains power. I use the UPS strictly to even out the line voltage. A good old SOLA 1500KVA computer UPS.
We use an Exact Power EP-15A to maintain level voltage, much as Jsmoller does. Isolation devices beneath that make a clearly audible difference (improvement) in our system.
I suspect this is because the EP contains a large transformer. Every device in our system that contains transformers benefits from vibration management. We use cryoed Symposium Rollerblocks with tungsten carbide balls and they work really well for us (and yes, we've A/B'd and hear the difference between non-cryoed/cryoed and stainless steel/tungsten carbide.)
Whether isolation would benefit a pure power "conditioner" (whatever that is) I can't say. Stringeen says emphatically no, and advises losing the conditioner too. :-) OTOH, I've heard improvements from reducing vibrations in "just pieces of wire and electonics" - a hundred times. FWIW I've done the test he suggests with our EP, quite recently in fact. It's not going up for sale. Don't know about the Monster, never heard one.
Sol322's advice to try it and decide for yourself makes the most sense to me. You don't need us telling you what you can/can't hear! :-)
I know that I need protection from spikes and can watch the incoming voltage vary. I think the Brickwall and similar non-MOV protection is better but I haven't spent the money to upgrade. It has "only" ten outlets, so one day I will move it to the video side and use a better one for the audio. They are really very simple inside. I unplug everything from the wall during storms. In terms of vibration control, everything else is treated, so why not the Monster!