We use those rotary converters a lot in broadcasting. They're called "Phasemasters" and made by a company called Kay Industries. They're used to power 3-phase loads like big transmitters, irrigation pumps or welders from a single phase source. The biggest one we currently have can produce 75 KW of three-phase AC from a 400 amp 240V single-phase service. It's about 2/3 the bulk of a home washing machine and weighs around a ton.
Phasemasters are actually a rotary transformer. It mechanically phase shifts a portion of the single-phase supply from the utility creating true 3-phase power. There's a big bank of capacitors in the box attached to the motor.
Extremely reliable piece of gear. We've got one in Denver that's been in continuous service since 1984. Once a year you shoot some grease into the ball bearings, and that's it.
Cold starting them under load results in some interesting effects, we measured a momentary draw of > 2,000 amps at 240 volts with the larger one of the two. Almost half a megawatt. Dimmed lights all the way down the mountain for a second. There is a 'soft-start' option available, but we don't have one.
http://www.kayind.com/pdf_files/product_data_sheets/t_brochure.pdfThe dynamotor lives on!