Maybe. Especially as you will have your LED's on top of that. But you want to use the same transformer. Otherwise, you can use a more powerful regulator, and/or a heatsink (search for that here, you'll find good info). You'll have to figure out the maximum that your system could draw. Add up all the LEDs and backlights, add a bit (few hundred at least) for the rest, and add a bit to be safe. There is a 3A version of the 7*05's (search those too). I personally wouldn't recommend a completely separate transformer for the LEDs, you could have issues with different grounds... This will work in some cases, and not in others. It really depends on the parts you choose. The schematic you saw is the simple way to do it with non-fancy-schmantzy parts. :) It Would probably work in your case too... the 7805 should go up to 1.5A (search it, you'll find more posts like yours), but if you do that, you will need a heatsink for sure. Nope. Your display sucks a lot of juice, and you have 2 of them. 8V might be a bit shy. 9-10 is nice, especially if you have a heatsink in case that's too much. Any more than that is overkill, over 12V is bad. Just my recommendations, nothing official ;)