Rick: Those are pretty slick looking units.
Mike, that is how I'v usually done it in the past. Did have one customer that bought really expensive receptacles, had us disassemble them, install 3 mov's, and reassemble them. Kinda ruined UL acceptance, but he was a Registered PE.....
Keith: When I put mov's on for lightning or HV protection, it is obvious. The leads are usually all that is left. On plc outputs (120v), it seems like a couple of good hard hits, and they discolor or crack somewhat. I am sure that this would vary with different plants environmental conditions, and the operarating voltage. With 24v (actually, when customer is buying) I like GE's RC unit, but they ain't cheap.
regards all.....casey