Being electricians we are no strangers to the odd electric shock now and then, so for fun we decided to see what sort of current could be handled comfortably
1: if your supply is AC then you need to protect the LED from reverse voltage or you will fry it. this can be done by putting either a diode or another LED in inverse paralell.
2: calculate the series resistor based on the desired current. Remeber if its AC there will be a 50% duty cycle so you can probablly go a bit higher than the LEDs normal rating
3: if you use a resistor then most of the power will be wasted in the resistor and it will need to be specced to stand this.
4:the capacitor idea may well work but the reverse protection would still be needed.
5:you wan't to give some thought to insulation, I wouldn't trust a standard LED package to protect a person from mains contact.
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