It would be wise to compare the cost of an AVR with an LC with the same power ratings. Say a 3KVA AVR against a 3KVA max load LC.
AVRs are cheaper because they only step up/down one line of the mains voltage and that is easy, technically. LCs on the other hand have full-time filters across the mains and across the mains and ground, these filters are more expensive than the circuitry that controls the servo in an AVR.
LCs, in a matter of speaking, are like glorified extension cords, however, they must contain a series of emi and rfi filters as well as surge suppressors that protects your equipment from power surges/spikes, otherwise they are just that - good looking extension cords with a lot of outlets. Use of a good LC also promotes proper grounding, most AVRs have none.
You can always get away without an LC, but as an exercise (for anyone who dares), open up the psu of your LCD, the psu of your PS3, the psu of your DVD player, or even the psu of your Laptop's charger or even your cellphone charger, and you'll find at least a 1st order LC filter in there that filters rfi which can interfere with the switching section of that psu.
Think of an LC as a car's seat belt, we can get away without using them, oftentimes... but with the series of vehicular accidents reported lately, I'd rather use them.