ground or not to ground..??

My isolation transformer is connected to the wall outlet (3 prong), then its output is fed to a voltage stabiliser which then feeds to my gear. So the correct way is to just connect the IT to the phase & neutral of the wall outlet & connect the earth only to its chassis? So the stabiliser or components that come after the IT are not connected to Earth even on their chassis? All my power cords are shielded, so is it ok to not ground the shield then???
 
Equipment fed through an isolation transformer is much safer than a direct mains connection. Whether you can or should ground the equipment depends on what it is, and whether it was intended to be grounded.

Why are you using an isolation transformer? Equipment with their own transformers do not need it, but can and should be grounded. Transformerless equipment usually cannot be grounded. Power cords do not need shields, but if present they need to be grounded as otherwise they may increase interference pickup.