Hi,
the problem with the combination of a transformer with 12V or 15V and a voltage regulator of 9V (7809) or 5v (7805) is that the voltage regulators have to "burn" the unused energy. If you read the documentation of the alternative C64 PSU from hawkeye, you will see that the conversion from 9V down to 5V via the voltage regulator 7805 is only possible with a massive heat sink (which fills half of the encolsure already :-) ). The same applies for the step down from 12V or 15V to 9V. At the end of the day you need the 5V for the uController and its periphery, so you need to have a proper 5V supply.
Having said that, I would stick to the 5V switching PSU. But if you read all the other threads about replacement PSU's you will find a lot of other proposals. So my solution is just one of many and I am happy with it, although I have investigated all the others. At the end of the day it is also a matter of how much time you would like to spend to come up with your own solution...
Cheers
orange