Robert,With suitable heatsinking, a pair of 1N3312B diodes (50W each) should work fine.
I cannot find any stock around here for those Zeners as they are not stocked by any of our electronics suppliers. I only saw one add for those on ebay and they were for $26 for two, without international shipping.
The complete aftermarket AC regulator available in the USA goes for $20 without shipping.
That does not make such a DIY build cost effective as it still needs a heatsink and sealing against moisture.
Thanks for the suggestion, every bit helps even if this is a simple schematic, but it seems to be quite a grey area. Much appreciated.