In other news:
I have finally, after months and months of patient sitting like a vulture on eBay, finally, finally, managed to find a sensible sized (270VA), sensible priced (£25), variac and it just arrived:
Needs a bit of tidying up, and the previous owner/user had it wired for "indicated 270V" = "100% of whatever you've fed in", but that will all soon be sorted. At last, now I can properly torture test PSUs for line regulation.
Edited to add: Just popped the covers off over the actual transformer's rating plate - 270V
2A. So I have double the VA goodness, 540VA instead of the seller's advertised 270VA! Yay!