I'm going to make up a low-voltage AC supply. 0 - 35V, 1A
and variable frequency, 0 - ?. It'll be made up of circuits I've built
and used before, designed to be run from 12VDC

http://home.clear.net.nz/pages/joecolquitt/variable_ac.gif

The power amp would normally have a large DC-blocking cap
to protect the speaker

I could leave it out, but if it's in, how would that affect the I vs V
phase ?  Is that related to Power Factor wastage ?

wbr
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