OTOH, there's just something wrong about
putting a 25 amp cable on a 50 amp breaker running
to a 38 amp load.


Actually you do this kind of thing every time you plug a table lamp wired
with 18 gauge wire into a wall outlet protected by a 20 amp breaker.
As others have mentioned, this is allowed by the NEC under certain
circumstances. My only concern in your case would be voltage drop if your
extension cord was too long.
I also have a T/A 185 tig. It's on a cart along with a Thermal Dynamics 51
plasma cutter. The cart has a 30' 10 gauge cord that powers both the tig and
the plasma cutter
( but not at the same time ). I've never had any problems with this setup.
The 10 gauge cord never even gets warm, and neither unit seems to suffer
from low voltage due to a
voltage drop in the supply cord.
Enjoy your new welder
42



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