In the 1.5 years I've been using a projector, power surges haven't been an issue. But what many projector users protect against is a loss of power while the unit is on. Replacement bulbs are typically in the $300-500 range and sudden powerloss is hard on them. Many owners invest in a UPS to protect against this (I haven't and so far have been lucky, but they are so cheap now I think responding to this post has reminded me it is foolish not to. I think I'll pick one up tomorrow.).
Projector power cords are typically about 6' long. I've got a drop down ceiling so the receptacle is mounted on an overhead floor joist hidden from view. Should be no problen to mount a UPS beside it.
Good luck.
