True - Not much that we can do at the consumer level will protect from a direct lightning strike. That said, much of the damage experienced is more likely from static build-up and/or induced emf from a nearby strike, and we can do a fair amount to protect our equipment from those less severe events. Proper grounding throughout the system, all tied back to the main power entrance, is a big step in that direction. Then the point-of-use surge arrestors have a good chance of doing their jobs. Most folks recommend UPSs for the more expensive pieces of equipment. I also believe more powerful surge protectors installed into the entrance panel and at the phone and cable incoming points are advisable. YMMV...
Word of caution: A homeowner's policy can refuse to cover damages caused ostensibly as a result of an improperly grounded system, like an OTA antenna, cable, or DBS system not grounded in accordance with the NEC and any additional local codes. Make sure your systems are properly grounded. This is an installer responsibly, but ultimately the insured is "holding the bag"!
David L. - I don't think Dish has any liability wrt surge events. No doubt they end up replacing equipment that was not obviously damaged by a surge, but their warranty including the DHPP expressly excludes lightning and/or "acts of God". If a receiver is returned that was obviously "blown-up" by a surge, I suspect Dish (and all other providers) will expect the homeowner to claim that loss with their insurance co. Dish also excludes "installations not grounded in accordance with Dish standards", which I believe essentially allows them to make the owner prove that the system was properly grounded. IIRC, you're an attorney, correct? What's your take on that latter clause...?