Gar is correct on the 35V, and unloaded the transformer may put you above 35V. At rated load you will be slightly under with the diode drops. My recommendation is to drop the 7805 if all it is going to do is run the LED. Run the LED at 2ma, a red led at 2ma is almost indistinguisable from one running 10ma. Series resistor then is R=E/I or 35V- 2v(Led drop)/ .002 or around 16.5K 1/4 watt. Closest standard value 15K.
Phil, Still too many interests, too many projects, and not enough time!!!!!!!!
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