[cogman10]

Looking at the size of this thing, I sort of doubt it's much more efficient than doing a DC->AC->DC conversion. In fact, I'll betcha that's exactly what's happening inside this beast to both get the right voltages and stabilize them.

[gens]

It says 72% efficiency, so over 400W of heat at full load. Inverter to a normal PSU would be about the same, if not worse. It could be that it raises the voltage then drops it back down to 12V, but i'd sooner think it's just cheaper mosfets.

Anyway, these kinds of converters can usually regulate themselves.