Erik, bwanakitoko, and trobert225, I'll try to answer you all in this post.
Bwana, the battery in the laptop will act as a UPS, but it doesn't act as a voltage regulator or spike suppressor as far as I'm aware. I'm not sure I'm qualified to comment on the rest of your situation, though it seems that your Genelecs should probably be on a UPS so that they don't go POP! when the power comes back on.
Erik, the point of a UPS (uninterruptable power supply), especially of the kind that we're discussing here, is to provide AC power at normal line voltage when the power goes out. It does this by charging an internal battery (sometimes multiple batteries, depending on the model you get) while you have power, and when the power goes out, the unit provides AC power derived from those batteries. UPS's come in all different sizes and "runtime" capacities determined by the size and number of batteries, among other things. So when the power goes out, how much time you can run your gear from the unit depends on its runtime capacity as well as how much power your gear draws. Here's an example:
My computer (PPC Quad 2.5), two computer monitors, powered speakers, keyboard controller, 6 external hard drives, interface, Euphonix control surface, DSL modem and two routers all connected to one SUA1500. When the power goes out I can run my gear for 20 - 30 minutes before the unit runs out of juice. What I will do to increase runtime is turn off selected pieces of gear, like my 2nd monitor and powered speakers (I'll work on headphones).
When the power goes out, the unit beeps loudly, a constant reminder to keep an eye on the LED meter to see how much juice is left in the battery. When it starts to run low, I quit my session and power down the hard drives. That's really important, because if the power were to go out while I'm writing to any of those drives, it could result in data loss or a head crash. The last thing I do before the unit runs out is shut down the computer and all other gear.
The other thing this unit does is provide overvoltage and undervoltage protection. So if the power dips to, say, 100 V, it'll make up the difference and provide 120V. It will also protect from line spikes. I've been able to run during severe thunderstorms where lightning is striking right by the house.
I live in upstate NY, where we have 3 - 4 power outages a year due to bad weather or some drunk yokel plowing their pickup into a utility pole. But even when I used to live in NYC, working in midtown Manhattan studios, come 5 in the morning the MTA would switch on extra voltage capacity to the NYC subway and inevitably either my gear or the SSL would freeze. So I got a UPS and powered my gear from that. And it was nice not to lose my work, even when the console would need to be rebooted.
Anyway, I think the main point of having a UPS is to give yourself enough time to save work and shut down when the power goes bad. And the other important point is to provide a stable voltage source for external hard drives during power anomalies. The ability to run for longer than 5 minutes is, I think, a luxury. But then again, it's really cool too.
trobert, regarding the pure sine wave, it's my understanding that power supplies run hotter when the AC waveform isn't a pure sine wave. And as far as the noise on that tower/rack unit, the one I had was extremely noisy due to the fan which was constantly blowing. But who knows, maybe I got a bad one...