I have used the Polyfuses on AC for quite a few years. It would probably be wise to use the peak voltage of the AC waveform when selecting devices, rather than the RMS value.
"Old School" transformers with sliding taps certainly can cause a problem if two mismatched voltages are connected together. There is also the hazard of a massive stepup if one transformer is not plugged in. The power plug could easily have 300 volts on the power pins!
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