I think it depends on which one you have.
I have two new ones in front of me right now still in the bubble pack with the same number on them 5280. I know that I did not buy them at the same time so I don't know which is the new version.
They are different, one of them is designed for pass through protection and the other is designed for single circuit or pigtail use on a regular circuit (line only terminals no load ones).
If you have the one with the green ground pig tale out the back it is single point of protection.
If you have the one with the line and load screws you can use it at the point your electronics are and it will protect any receptacles downline to a certain point.
The installation instructions say that protection will diminish for each receptacle downstream so I would pigtail it in a box near my point of use.
I have one of these Leviton's in use for my TV / VCR /cable box for many years and I can't remember if I have ever had to replace it. I know we have had power spikes in the house as I have had to replace a different brand in the den where my computer is because it activated.