Panamax M5300-PM or APC AV H15BLK Power Conditioners?

[Uberbot]

It is time to purchase my yearly Xmas/Birthday gift for myself. Power Conditioners are not my area of expertise but I spent a couple of days researching and reading and reading. I've narrowed it down to a couple within my budget.

Panamax M5300-PM ($330)
APC AV H15BLK ($250 black $170 Silver)

Basic Pros:
Panamax - great build quality and the look I want.
APC - unlike the Panamax, offers power regulation and at a lower price.

I live in Florida which is a troublesome state but I have had little problems. The only strange thing I notice in my setup is the dimming of the lights when the AC comes on. Granted, I have 7 lights on a dimmer coming off of one switch. If you need more setup info, visit my HT Gallery.

Bonus question - What is the basic thought behind extension cords on equipment going into the power center? I have units like the subwoofers, PS3 and 360 that are pretty far away from where my power center will be.

Any suggestions before I make my final purchase today would be appreciated. I want to make sure I am not missing anything important.