Todays UPS's are really good and the higher end Smart and Online Models give you features that you can configure to set the thresholds etc. Unless you really need this for super sensitive to voltage dip electronics, I'd give a good quality consumer base model UPS a test. I have used base model UPS's for almost 20 years and never had any problems with systems rebooting or shutting down with them, unless the battery in them has died after 5 years and when the switch over happens in milliseconds the battery which is dead is unable to take on the load. The good thing is that modern UPS's will give you error conditions letting you know that a battery is junk inside so you dont have to find out the hard way when there is a power outage. Which reminds me I have 2 UPS's that I need to find replacement batteries for which both died at 4 and 5 years of use as i sharpie markered the installation dates on them to keep track of age
Expect to have to replace this about once every 3 to 6 years. They seem to last longer actually in environments where the power has problems and they drain and charge frequently, while environments where the batteries are constantly topped off, the batteries build memory and go stale and die sooner than later. Since you have power concerns a UPS in your home or business should cycle through a drain and charge cycle and hopefully last you. Buying a good brand like APC will also ensure that the life of the UPS is 3 to 6 years vs dying sooner due to low quality lead acid gel batteries used.
The good name brand UPS's come with warranties that protect equipment that are properly connected to them from lightning etc.
More info here at this link which shows various types of UPS protection and design. The better ones allow for you to specify threshold of when to intervene with battery power etc, but they come at a premium and may have to be special ordered. I'd get a basic UPS and start with that to save money.
http://en.wikipedia.org/wiki/Uninterruptible_power_supply#Double-conversion_.2F_onlineLastly ....
be sure to make sure the battery is connected inside of the unit before use. Most come with the batteries disconnected requiring you to connect them to activate them, If you want to test it, you can plug in a lamp that is less than 100 watts into the battery backup side of the UPS after the UPS has been given about 8 hrs to charge and turn lamp on, and then unplug the UPS from the wall and the lamp will remain lit if the UPS is working correctly. Its very rare that they dont when purchased, and most models will give a tone or other warning indication if you have failed to connect the battery to the UPS because without the connection there is no backup power available.