That schematic is a controlled SCR rectifier, it WILL produce a fairly stable 30V DC and you can adjust the voltage by changing the values of the Zener diodes. You can also increase the current rating by using a larger SCR but please treat it with caution. It offers NO isolation from the incoming AC and should any component break down, the chances are it will produce over 300V at it's output. When I say you should use a transformer, I mean that if anyone touches any part of the circuit, including bulb holders with the bulbs removed it can kill them instantly, you do not get a second chance at life.
You should note that when that kind of schematic is used, there is normally an over-voltage detector connected to it's output which is designed to instantly blow fuses if the voltage starts to rise. This protects against component failure but still does not make it safe to touch. It should really have an interference filter at it's input as well, this kind of circuit produces considerable radio interference and in some countries is illegal because it draws asymetric current from the mains supply.
Brian.