Dpc, your calculation is correct, and that is the maximum amount of fault current the trandformer can produce. This fault current would be limited by the source feeding the primary side of the transformer.
Downstream of the Secondary side, the fault current would be reduced due to the impedance in the cable, thus the motors and other components in the circuit would not add to the fault current.
So, if trying to protect downstream devices, ensure the device you are using to clear the fault current (fuse, breaker) has an adequate interrupt rating.
Just wanted to add some info from my experience working at a fuse manufacturer.
Regards,
-Paul