That is the control panel from an old naval nuclear reactor. On the far right is the EPCP (electric plant control panel) where the electrical operator on watch ('EO') controls power flows and breaker positions (notice the schematic laid out with switches for breakers). In the middle section is where the reactor operator ('RO') sits. He shims the control rods up and down in the reactor core with the lever (the L shaped lever just in front of the horizontal bar) and on the left is the throttleman station (usually manned by electricians). The large wheel is used to open/close ahead steam valves to the propusion shaft, while the smaller wheel is used to open/close back steam (astern throttles). The two wheels would be used in conjunction with each other to get the shaft to stop from a forward rotation, and then go in reverse (ahead steam is removed and astern steam applied to stop the shaft). The different gauges are specific to each station, with the throttleman concerned about power to steam flow ratios, steam pressures, etc. The RO cares about primary water avg. (coolant) temp, pressures, etc. The EO is watching vital bus voltages, and charging the battery with a trickle charge.GeekPress
Update: New information on the source of the image.
The color picture [below] was taken in 2000 at the Smithsonian Institution exhibit "Fast Attacks and Boomers: Submarines in the Cold War" and depicts:A full-scale mock-up of a typical nuclear-powered submarine's maneuvering room in which the ship's engineers control the power plant and electrical and steam systems
From: Urban Legends Reference Pages: Inboxer Rebellion (Does Not Compute)
I guess I've been remiss on keeping up on Fark. In fact I must openly admit I have Fark egg on my face. An anonymous commenter has pointed to an article on Snopes.com that outlines the whole scoop on the "1954" fake. Needless to say I was duped and it wasn't even a good dupe, but I will say that noone gives the photo editor who affectionately calls himself "lukket" enough credit for making his spoof just bad enough to look like an scanned Popular Science article from the 50's.
Fark contest from 9.9.04: FARK.com: (1115586) Photoshop this mock-up of a submarine's maneuvering Room.
Lukket's Fark profile
the original edit on lukket's site