Well, I received my UPS this thursday and I've been playing with it since, there are just so many fun things that you can monitor using the apcaccess command..
I've set up MRTG to graph both the line voltage and the output voltage of the UPS, so far the extremes in terms of line voltage seem to be a low of 228V and a high of 237V, perfectly acceptable in my book. The output voltage hasn't deviated from 230V. Good job APC.
Of course, right now I'm a bit worried as I haven't hooked up my ADSL modem to the UPS yet, I was going to do it the other day but decided to wait until tomorrow because I've been working. This is worrying because there seems to be a thunderstorm brewing, guess I'll just have to cross my fingers and hope for the best.