Thanks, Kryptychon and Phil1977. I have some replies below. A lot of your comments are things that are definitely on my mind; I just haven't decided how to execute them.
* SW4 / PE: The short answer is that for every claim or advice I can find about isolating or not isolating ground, I can find an alternate reason to do the opposite. I can see reasons to want it either way, so I figured a switch would give me flexibility. IMO, there is no piece of test equipment that doesn't require your brain to be engaged, and repairing or developing a circuit is, by definition, "unsafe." If you feel strongly, just believe that I will keep the switch in one position.
* A secondary fuse is an obvious oversight.
* Self-locking/auto-power-down: this was the attractive part of using a contactor or relay system. I may do so, at least on the output switch.
* If I use a relay system for control, I will definitely add an emergency stop. In reality, I don't have room on my bench to get more than arm's length away from the device, but safer is usually worth it.
* The Voltmeter element will almost certainly be a full power meter, just because it's easier. I am also thinking of adding a Voltmeter to the Variac output, independent of the final output, but I'm still balancing that against being able to turn the Variac off when in bypass mode
* I do want to explore a current limit, but I don't really like the dim-bulb approach. I appreciate its simplicity, but it ruins the dimensions, and I don't like using consumables if I don't have to. If I have a current meter, I may just add an internal resistance that I can switch in. If I use a micro, there will definitely be a programmable current limit.
* The first input switch is simply because I have those input modules available, and I really like knowing there is a switch at the cable end. Granted, if I can reach that switch, I should be able to unplug the device. It would also be helpful if the front switches were latched, as they wouldn't be master power switches.
As you can see, I'm still working through many items.
Thanks for the input.