These turbo's exist but are used mostly in the HD diesel world. There are a few types. The two more popular designs are the vairiable vane type that Garret was producing and the variable sliding nozzle style that Holset produced. Based on my knowledge and personal experience testing with these turbo's, I would say the Holset style was the most reliable type. They require a lot of complicated computer controls to make them work. It will probably be a while before there is a demand for this technology in race car use.
As of now, the traditional wastegated turbo nad the addition of ball bearings is more than sufficient for performance use and much less complicated.
Allan G.