> TIP41C
The "C" is the 100 Volt job, right? That's OK.
> is this a flawed regulator circuit?
In one sense: why did the original blow? Perhaps because when something goes wrong, the trnsistor tries to flow "infinite" current, and 65V times infinite current is infinite Watts. (OK, the 10K in the Base sets some limit, but still perhaps 1/2 Amp and dozens of Watts more than the bare or barely-heatsunk transistor can stand.)
Blow another two bits. Put a resistor between the +65V source and the transistor Collector. I'm thinking there's no need for even 200mA. The transistor can do that with only a few Volts C-E. So 65V-5V-20V= 40 Volts across the resistor at 0.2A flow, 200 ohms.
In a dead-short the full 65V appears across the resistor, 21 Watts. If you were constantly poking screwdrivers in there, a 20W or 25W part would be blowout-proof.
At nominal 0.2A load, 40V across the resistor, 8 Watts.
I suspect normal load is more like 0.1A. 20V across resistor, 2W.
For normal use, a 5W should do, a 10W is sure to take any normal use. Either will burn-up in a dead-short, so you know what happened.
Meanwhile, back at the transistor.... the worst-case heat will happen at 0.113A. 22.5V across resistor and 22.5V across transistor, 2.54 Watts in each. A TIP41 should have several square inches of metal heatsinking to handle 2.5 Watts long-term. That's WORST-case; at any other load the heat in the transistor is lower, it won't cook (the resistor may). Also the worst-case current in the transistor, dead-short, is 65V/200= 0.325 Amps, well below the 6A rating. Witht the resistor in line, the transistor can't feel more than 2.54W 0.325A, far-far below the "infinity" it could get without the resistor.
Sorta like a lamp-limiter for starting sick amps. If something is very-wrong, you don't have infinite power available, stuff doesn't explode.