What's horrific converter performance in numbers?
An isolated flyback (to 12V) should be able to hit >92% and doesn't care if it's fed -48V or +48V or ±24V. TI webench gives me 95% though I'd only believe that if I'd built and measured it. What's the performance of your -48V → +48V?
[with the caveat that these frequently require custom transformers... not an issue with large runs, but finding something that can be done with an existing part for smaller runs is... meh]
Horrific performance by my definition would be 48v to say 1v. We only realistically use buck topologies for POL supplies. Such a ratio is really bad for current transients, not to mention issues like minimum on times for the controller.
(Thanks for the info!)