Whew, this is harder than I thought it was going to be.
First of all, thank you everyone.
Second, I'm obviously going to use an isolation transformer. I'm not a knucklehead. I realize that if everyone is advising me to do that, then clearly they are right and I was wrong. That was kind of my assumption from the beginning, because clearly, to Pete's point, this was not an original idea.
All of which brings me to point 3: Please, I just want to understand why. Not because I'm disagreeing, but because I hate not understanding why I'm doing something.
I'm also not lazy, I did a fair amount of reading before I made my original post. I thought I understood the safety rationale for the isolation transformer, but I don't see how it still applies when the power ground is not shared with the circuit ground and where neither the hot wire or the neutral wire are connected to the chassis. pdf64 made an excellent point about components that are designed to work with wall voltate, and I think Pete was trying to educate me with his comment about the potential potential difference between earth and ground, but I'm still not getting it. Pete, I expect that you are too exasperated with me to explain it in a little more detail. But maybe someone can give me a more complete explanation or a link that will educate me. Unfortunately, I think my attempt at expanding my understanding has been misinterpreted as either arrogance or argumentativeness.
Steve, thanks for the design suggestion. You helped me with another project (an organ amp rebuild) on another forum and, like everyone else, I've learned a ton from you.
Truly I have a ton of respect for the jedi masters on this board.
I'm hoping at the end of this, I can smack my forehead and say "Oh, NOW I get it!"