It doesn't even require a 'strike', actually. Lightning
induction can be enough to cause damage to electronics. Hang a wire in a tree with one end a couple feet off the ground before a thunderstorm some time and watch the sparks fly when lightning flashes within a mile or so... then think of the miles and miles and miles of phone lines, power lines, etc., in a typical city. All of those wires generate 'induction' just like the wire hanging in the tree. Every once in a while someone gets electrocuted using the phone during a thunderstorm!
I've had a surge protector between my phone and modem equipment and the phone line since day one. I also use surge protectors on all my household outlets. It was a few extra dollars at the start but I've not had to replace all my consumer electronics at once due to a bad lightning storm rolling through, either.
[ July 02, 2002, 17:01: Message edited by: Baron Munchausen ]