The ONLY APC units that are crap, are the Back-UPS XS and RS lines. And especially the ancient Back-UPS series. The Back-UPS Pro, and the Back-UPS CS series are very reliable -- as are many of the Back-UPS ES.
When you get to the Smart-UPS line, quality is immediately apparent -- they are very good units.
You complaining about the sine wave, shows you have no idea what you are talking about. The Back-UPS line DOES output a stepped sine wave -- they are very clear about that. Once you get to the Smart-UPS line, its a TRUE sine wave.
http://www.pbase.com/wlarmon/ups_waveforms - this guy has done all the research. APC units are very good and trustworthy, just do NOT buy the cheap ones. Its as simple as that.
http://www.refurbups.com/APC-UPS-Systems has a great value on their units -- they test used, working equipment that they buy in bulk, slap in brand new batteries and if they pass testing they sell them for a fraction of the price of new. Been using them for years, and while occasionally an issue arises, they are very knowledgeable and very helpful. In fact, if anyone wants to buy from them I can give you a 5% coupon for your first order.