I've always had one, for every system I've owned for at least 15 years. In all that time I've never (knock wood) had catastrophic hardware failure. If I lost a HD, it failed slowly - so I had time to deal with it.
I believe this is due to clean power. While UPS's are marketed as being good for power failures, I believe they are better for dealing with much more frequent power dips and brown-outs. Even in a large city, with good power, my UPS's alarm would sound a couple times month to let me know that it had kicked in, though the power had not actually cut out entirely.
Now that I'm in a rural area..... well, its been a system saver more than once. If you live in an area with good power, and you don't need the computer, then just buy one to give you enough juice to shut down gracefully. Cleaning up the power is much more beneficial, IMO.