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The best protection for your system is at the panel. That does not negate the fact that many line conditioners offer protection. Please do realize that if lightning hits within 50 feet of your home nothing known to man will protect your equipment other than having it unplugged.
When I lived in FL. in 1991 I had line conditioners with surge protection and protection at the panel and it still fried the system. Just make sure you have replacement coverage with your insurance and make sure your company does not expect you to have an optional rider for expensive audio equipment. Most do not but there are a few that do.
The Shunyata is an awesome product and some customers have piggybacked the Hydra with other line conditioners to get surge protection but you are spending alot more if the only benefit you are gaining is the surge protection. If it sounds better then it might be worth it but that has not been my experience.
With my initial experiments I have not liked piggybacking the Hydra.