Readster, yes: the Walker motor controller completely regenerates the AC. It converts the wall current to DC, then regenerates AC to feed to whatever you plug into it. Here's Lloyd Walker's description in an interview published at 6moons.com:
Actually the motor controller is triple-isolated from the noise of any electrical rotating equipment, meaning the motor itself and your system power. In the Ultimate Motor Controller, we use super- expensive, ultra high-speed rectifier diodes with zero recovery, the best Black Gate caps; I also use premium Solen caps and .05% nude foil resistors. The A/C is changed to D/C. We recreate the A/C sine wave and then drive the motor through another custom toroidal transformer. The 33RPM and 45RPM settings are adjusted separately and speed is selected with a switch. There's a phase switch on the side of it to set the phase for the motor. You never know how someone wound the motor - did he wind it left to right or right to left? So the phase switch is there. You listen, flip the switch, listen again, then leave the position where it sounds best. That's it..
http://6moons.com/audioreviews/walker4/sota_7.html
