Thank you VooDust, helius, bdunham7, bob91343 for your replies. It really helped me understand a few things about Isolation transformers and electricity in general. Unfortunately, I have more questions now
1. If there is a conductive path from the secondary ...
Interesting. Am I right in assuming that the purpose of the devices that have their ground bonded are less for electrical safety, and more for signal integrity?
First, an isolation transformer will completely defeat any GFCI protection on the primary side
I did not think of this at all. After digging a bit more, I now understand that GFCI protection works by checking the difference in current between L and N, and thus the Isolation Transformer would completely disable this protection since all current in the primary side would be returned, independent of any leakage in the secondary side. I hope I am correct in this line of reasoning.
It is not possible to give simple, generic advice on this matter, IMO.
I do agree. It does feel like one of those things where if you have to ask, you probably are going to seriously put yourself at risk. From what I understand, it is far better to use a differential probe than to "float" the scope (unless you really know what you are doing).
Whenever this topic comes up, which is disturbingly often... isolation makes the ground useless as a safety device
Before I made this question, I also came across various threads (mostly from people working on valve amplifies etc.) that seemed to give the floating scope advice. I was sceptical and that's why I decided to go down this rabbit hole. I think my takeaways from your answer are - just don't. Pay for a differential probe.
I do have a question around what would be a common scenario where you would need the device to be galvanically isolated from the mains. (And what does that even mean - intuitively). I looked at Wikipedia and this is what they had to say:
Isolation transformers provide galvanic isolation and are used to protect against electric shock, to suppress electrical noise in sensitive devices, or to transfer power between two circuits which must not be connected.
The part I am confused about is how they protect against electric shock. The one path of current flow it does reduce is between live and earth ground (through one's feet), but other than that, it doesn't seem to reduce any risks.
The other application I can think of for an Isolation transformer is impedance matching, and again, google seems to spit out several commercial products in the audio space for this, but I don't fully understand why you would need over an Opto-isolator+mosfet/BJT for example. Ofcourse I do understand that in very high power circuits the transformer if probably the way to go, but for things I would be able to do on a home supply (110v 10A) - I can't really think of much that couldn't be isolated by other means.
Thank you for your patience and responses.
Regards,
Shaunak