It would definantly reduce your line quality. I wouldn't hazard a guess as to the results of trying it on a VOIP based system. And harrkev raises a good point about peak voltage, but putting in a regulator circuit wouldn't be too terribly difficult.

My big question is, how bright is it really?
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-IronRaven

When a man dare not speak without malice for fear of giving insult, that is when truth starts to die. Truth is the truest freedom.