I have a (refurbished) APC Back-UPS LS 500 I've been using for a year and a half or so, and recently when the power's been crappy (thanks to bad drivers...) I've noticed it's no longer doing the thing ...
I have a APC 800 UPS that is beeping. (Needs a replacement battery). I have heard that the surge protection circuits eventually wear out and that it is often better just to replace the entire unit ...