Going from 120VAC to Arduino VDC

So I think I'm pretty smart on how to put together a capacitive 120VAC->DC circuit.

If I use a zener to drop this to 9V then feed it into Vin, how well regulated will this be? Can a zener even handle this?

Should I use a 9V regulator?

I'm not sure what the best way to go here is.

Link to what I'm thinking about:

Imgur

(I'm not good with eagle yet)