Most spikes that may damage sensitive electronic equipment are between the Ungrounded Conductor and Grounded Conductor so a proper surge protection device can still help regarding that even in your old two wire system, it's still better then nothing.
As far as safety equipment grounding, as you don't have a true separate equipment grounding conductor I would NOT make any attempts to jury rig a "bootstrap" ground using the Neutral. Even in two wire systems proper polarizing receptacles and plugs are best.
FYI The Grounded Conductor (Neutral) is for conducting normal return current, while a true separate Equipment Grounding Conductor (third wire) is to provide a dedicated low resistance return current path FOR FAULT CURRENT ONLY.
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