I've had this voltage regulator for 8 months now. Power conditioning is absolutely necessary in places like the modern US strained and aging power grid where power is unreliable and fluctuates wildly. For example, each day the voltage at my house ranges from 115 to 132V. The 132V wears out light bulbs, which only last a few months and is pretty far above the accepted operating range that is supposed to be valid for home power lines. The power company workers, when not out of their mind on meth or crack, insist that everything is perfect and nothing can be done about the fluctuations. So, power conditioning devices are needed to prevent all your delicate expensive electronics from burning out prematurely. The three lights in the front are useful as I can see at a glance how haywire the electricity has gotten, albeit to a rather coarse quantization level of low high or OK. When the lights switch, the internal circuit switches transformers with a fairly loud clicking noise. This is only a few times a day, unless I turn on a vacuum cleaner, or allow my laser printer to stay on as its power cycling has a huge draw that seems to drag the entire house circuit with it, dimming the lights, even though it's on a completely different circuit. When the indicator is in the center, the OK level, the voltage is passed through. Right now for example the voltage in is 124.2Vrms according to by digital volt meter, and the output of the LE1200 is 124.1Vrms. Note that this is still a bit high. When the input voltage goes up or down, so does the output voltage. Then, when it hits the trigger level, you hear a click, and the output voltage is divided down a bit. But still varies proportionally with input. These observations, which you can do yourself with a meter if interested, are different from claims that the device actually regulates the voltage and smooths out small changes. That is not what I see here at all. It seems pretty clear to me, lacking schematics for the device, this is not really a voltage regulator at all, but is a voltage switcher with a step up, step down, and unity pass through taps on a power transformer, a voltage overage and underage detector, and a a three way magnetic relay switching circuit (obvious from the loud clicking noise when it switches) which chooses the transformer tap. (For those who would like to debate whether this is a regulator or a switcher, please first do measure the voltage outputs yourself with a good digital meter to see its behavior at various input levels.) So it seems to works pretty good, but it's not going to even out your voltages like a true regulator would, it's going to prevent damage from under and over voltages within a certain range. It works much better than my previous $125 APC battery backed up voltage regulated surge suppressed unit whose batteries only lasted a few months and would often fail. It would often just turn itself off without switching to the battery, causing everything to suddenly turn off when ever there was a voltage fluctuation. That doesn't happen anymore. The old unit also let surges through that burned out a lot of my equipment anyway. I trust this unit more and am likely to buy another one.