The courteous gentlemen at 18Watt flamed me for asking about using a zener on the PT center tap years ago. Phil & Co insist that anything between the PT center tap and ground is asking for trouble. Glad to know some things don't change.
Bruce Collins from Mission Amps used to advocate using a string of smaller voltage zeners in series between the rectifier and the first filter cap to drop voltage. The zeners' cathodes point away from the PT and toward the filter cap (I think - please confirm orientation), and each zener drops a certain specified amount of voltage. IRRC he also mentioned the possibility of running the connecting leads through pennies to serve as heat sinks. I seem to remember a discussion about this not too long ago on the AMPAGE board where Bruce advocated putting the zeners between the PT center tap and ground but could be wrong about that.
Bottom line seems to be that either way will work. I prefer the PT center tap because I can use one big zener the mounts through the chassis which serves as an excellent heat sink. One solder connection, which you have with a PT center tap in any event, and one mechanical connection with the chassis. The downside to that approach is cost plus you don't have the opportunity to tweak the voltage down in gradual steps. There must be a risk of the zener failing, but I don't know if they tend to fail open or closed in terms of voltage passing through. Frankly, if I were going to use a string of 5 volt zeners to dial in whatever sounds best to me, I might very well do it on the power rail instead of the PT center tap. More solder joints increases the possibility of a failure/cold solder joint/etc and losing the connection between the PT center tap and ground definitely qualifies as a BAD THING.
I've read various folks theorizing that you need to do something to eliminate zener switching noise. My suspicion is that this notion comes from the hi fi cork sniffing crowd but I am open to correction on that theory.
Cheers,
Chip