Rockwell Automation did some work to modernize this with the ironically named retro-encabulator [0]. It follows the same principles, but uses the off-the-shelf parts we've come to appreciate from RA affiliates. GE was the main supplier of this updated version [1], and reviews show that its performance was excellent in the field.
[0] https://www.youtube.com/watch?v=RXJKdh1KZ0w
[1] http://www.rfcafe.com/miscellany/humor/ge-turbo-encabulator....
EDIT: There's quite a lot of controversy convering this area of reseach in the following decades. A more technical overview [2] on the turbo-encabulator's operations is discussed in an article covering Chrysler's tulmultuous efforts to apply it to their automotive line. The short of it is that despite being an impressive leap forward in technology, if mass produced it would generate dangerous quantities of DHMO [3]. It just goes to show how a small unexpected side effect can derail even well researched technical solutions.
[2] http://www.curbsideclassic.com/automotive-histories/automoti...