Okay, I'm going to go out on a limb, here...
geratheg:
bought a Dynex 1200mah variable AC to DC power supply
For each 3V, 4.5V, 6V, 7.5V, 9V, and 12V setting the reading was about 0.28V higher
I bought it for use with the Make: Electronics book to learn about electronics.
You haven't set your location, but here in the States, Dynex is the house brand of Best Buy. Overall, it's mostly cheapo import crap. Still, some of it works okay.
When you say "variable", then list a set of common voltages that battery-powered devices use, that sends an alarm to my brain that what you have isn't variable - it's
switchable. Biiigg difference!
Therefore, based on text and no picture evidence, I'd say what you have is an AC-DC switchable voltage adapter (also known here as a "battery eliminator"). It probably looks like this:
http://www.radioshack.com/product/index.jsp?productId=3875403AmIright?
In which case, everything's fine. It works by either switching between taps on the transformer, or by switching in different sense resistors for an LM317 or somesuch regulator. The fact that you're within .28V or so, I'm guessing the latter, as a 317 can do 1200mA, and transformer taps wouldn't be near that accurate, figuring loading and all. It'll work just fine for most any Make project, but get into the habit of triple-checking the voltage setting before powering up!
nop
P.S. - Does it really read "1200mAH"? That means milli-Amp-
Hours, which is a measurement for batteries, not power supplies.