The LW should run any loco fine,assuming it is in proper order.. Not sure what the 7794 is but if it has cruse control it will run slower at a given voltage.
As far as accessories you can run a few off of it,not too many and depending on what they are.
The lockons are OK,I would put a third one o the other side,just to even out the voltage drop.
The 2055 will tend to start off fast. You can alter the loco a bit (install a bridge rectifier in the engine and run on DC) or find a transformer that starts at less voltage. You cant go too low because you have to cycle the E unit.
I would stay with the LW,or maybe find a CW if you want modern and don't run MTH locos. Opinions will vary.
I see this is your first post so,don't be afraid to ask questions.
Dale H
