Michael : Thanks very much for digging deeper into the circuit and analysing it for us. Let me clarify, I have never used this circuit till date. Just found it 'interesting'

Kai : I found this link while searching and thought it would be helpful. But, I did not imagine the debate it would bring about. Anyway, irrespective of the points stated in your mail like overcurrent, precision regulation etc, it is interesting to see a switcher made so small. Of course, I know of the flyback switcher too, but, it does not regulate with the single transistor. So, I posted the link

About the Karma points, it really doesn't matter if someone gave me +2 or -2. I was just out to make the original poster see this option too.

Jerson