This makes me wonder if your experience is with substation
transformers or pole pigs or what.
In the absence of any practical real-life limitations, I am
perfect.
Phil may even be understating it (which is unusual for Phil).
Wallwarts are made cheap. Using smaller gauge wire and crappy core
causes lower efficiency at rated load (thus it runs warmer and costs
the consumer more electricity to run it), higher no-load voltage and
other bad engineering crap. Actually, I also understand the core is
operated at or near saturation (because it takes fewer turns this way,
thus saving copper wire), which may actually help regulation, but the
wire resistance is so high it hardly makes a difference.
Wallwarts are designed to minimize three things: cost, cost, and
cost.
Of course all that's obsolete now that there are off-line switching
supplies made smaller and cheaper than walwart transformers.
Perhaps the Japanese, and now Chinese, learned as much from Muntz
as they ever did from Deming. It's amazing the USA has survived this
long, we keep giving away all our good ideas.