I think your board will work, but it's not quite how I'd do it.
Your design is very similar to the one here:-
I'd use a bridge rectifier.
I'd get rid of R1, after all, you've got the LED and its resistor in there, and anyway, the advisability of bleeding these caps @ low voltages is moot.
I'd get rid of C8.
I'd make C1, C2 and C3 all one cap, or put a res between C1, C2 and C2, C3 to get some smoothing.