A voltage regulator helps stabalize the voltage at a constant rate so that your gear gets a steady 120 volts at all times and helps generate power when the fluctuations goes below 112 volts or over 125 volts, by decreasing or increasing the power stored in the voltage regulators chasis. Avoid companies like Monster and get similar gear from Tripplite, their surge protector "Isobar" can be had for 70.00 and does the same as the Monster that costs 500.00. Also Tripplite sells a VR for 120.00 that does the same as Monster that costs 1,200
BTW, a good surge protector will help out the picture quality to some degree by giving you a clearer picture and in my case, brighter whites and more vivid colors. Not a huge difference,, but a difference none the less. It won't do anything for sound quality though.