Thanks for all your replies guys. It looks like the current solution 
(good linear LDO) is actually the best (cost, size, performance) 
solution in this case.
David...

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David Duffy        Audio Visual Devices P/L
Unit 8, 10 Hook St, Capalaba 4157 Australia
Ph: +61 7 38235717      Fax: +61 7 38234717
Our Web Site: www.audiovisualdevices.com.au
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