At work, we use a large DC load (6kW), AC power supply (these are very, very heavy, but are very useful for testing, as they let you generate 50Hz and 60Hz at multiple voltages), oscilloscopes for noise/ripple measurements, multimeters for more accurate voltage measurements, and current clamps for measuring current (in the case of the power supplies we test, this lets you check load sharing between multiple supplies.) Websites like Jonnyguru.com and hardwaresecrets.com do proper power supply testing for the most part, checking voltage regulation at multiple load levels and noise measurements. However, it'd be nice if they checked transient response, though I guess you can't have everything.