For mains attached circuits: what do I need to protect against and how do I do it?

Protection of electronic equipment is normally defined in IEC 61000 standard. It includes protection against ESD (61000-4-2), immunity to EFT (61000-4-4), 61000-4-5 (lightening surge immunity), etc. The standard is a collective wisdom of what kind of surges are typically there, and defines several classes of equipment protection. Here is an example from Texas Instruments, with examples of what to protect against, and partially how. There are many other good write-ups, with examples of protection solutions. The keyword is "IEC 61000".

Your wattmeter only has arc suppression gap set at 6kV standard. So you can expect anything less than that and possibly more , likely in Florida , with transients that do not ionize the gap.

This is why burnt out LEDs in Florida are so common with cheap PAR Lamps.

One way to suppress peak voltage is via line filter using two X1 caps and a choke or a 3rd order LPF. This reduces the 10kV spikes to <3kV or even as low as 300V but stretches them out in time.

So Optoisolator products assume you know about this and are all rated for 3kV isolation.

Any protection you add to clamp these voltages must be able to,handle the current that follows.

Gas tubes can handle 10kA surges but expect you to fuse the input.

MOV's are cheap and good but can only absorb occasional surges and will fail after so many accumulative Joules in energy. Chokes allow the rise rate in current to be limited until they saturate , then they behave like wirewound resistors.

Here is some industrial design background for line filters. Line filters in LED bulbs must pass these tests, and not all,suppliers are legit in saying they are compliant.

There is no "one solution fits all" because of other requirements for low cost, high reliability, and new EMC compliance rules for devices >= 100W must have power factor >=0.9 using active PFC etc.