Wow, who knew this would generate so many posts!
I goofed in that 120A supply would not be needed. In fact 20A branch circuit protection in the panel would be adequate. Of course, then it would defeat the purpose of the device, because the branch circuit breaker would be tripping continually. In order to have adequate power for multiple shop tools, you would need to increase the amperage supplied to the device. The 30A 220V feeder would be a practical solution, however as was pointed out in a previous post, this would be non-code-compliant because you would be 'over-fusing' the individual receptacle wiring in the device.
I still have a problem with the solder-only, non-insulated connections. If something goes awry and the device's overcurrent protection device overheats, the solder will melt. You could end up with a hot wire make contact with a metal box...
I'm assuming this device was part of a UL approved UPS. That's fine so long as it is in the original unit. Once the device is removed, it is not UL approved for the new application. The problem is that a DIY (again, no offence intended--I am one too) may use an inappropriate device box or mount the device unsafely, or over-fuse the device.
And as far as legal liability, I'm not a lawyer, but if someone's house burnt down as a result of this device, I'm sure a lawyer would get lots of mileage out of OP if they had a way to find him/her.
I'm sure the device is worth the asking price of 25$ just for the component parts, but if anyone does purchase this device, it should be used for just that--parts.
Mr Fixit eh