Some of my thoughts:-
The latest 25kv system uses a 50kv feeder along the track which is transformed down to 25kv every so often to feed the catenary. What's so different to a similar system but having the high voltage transformed and rectified to DC 3rd rail.
As NajaB says, that's how 750VDC 3rd rail is done here. The HV is 33kV which is supplied from a major connection to the national grid. That infrastructure is owned and maintained by Network Rail which is necessary because the feed points need transforming and rectifying with quite critical switching and fault monitoring kit because the peak current draw is not much less than that which might occur with a fault. That kit also requires railway land onn which to put it as well as maintenance access. With OLE, all electrical tcables are carried out of reach on the masts/portals including the autotransformer feed and earth wire, (the latter two may be put into insulated cables when the line goes under bridges and through tunnels just like the 33kV feed on 3rd rail lines does).
This avoids having every train humping several tons of transformer rectifier around.
I wonder how the safety nannies at the ORR view the bottom pick up as used by docklands and many other countries. With an insulated cover is has a number of advantages.
K
The on-board transformers and rectifiers are getting lighter and smaller despite the power requirements going up, and as most new 3rd rail EMUs are required to be suitable for OLE conversion, the necessary provision often includes a concrete dummy weight, to enable the suspension setup to be common for all delivered stock.
Most 3rd rail systems outside the UK are on metro or suburban routes and not expected to run long distances over 150km/h as they do in UK, (e.g. SWML). LU runs a pure metro service and with absolute infrastructure constraints on 160km of the 402km total affecting every line, with track access tightly controlled throughout, there are no plans to convert it to OLE.