I am really impressed with this neat bit of gear I bought yesterday. I wanted a stepdown transformer so I would be able to test finished machines on 110V for overseas markets. I found this machine which not only does the 220V > 110V but is mechanically regulated.
There is a preset inside to trim the exact output voltage and the motor/gearbox/wiper moves as required to maintain exactly 110V output even if the input voltage swings around a bit. It works perfectly.