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diodes will drop the voltage, i have used them in low current applications   where stability is not an issue with good results nicad chargers ect but you have a similar problem to a divider network with   dynamic loads,


the trouble mole is seeing with his divider is that the load impedance of the circuit hes trying to power is effectively in parallel with r2 of the divider which pulls the voltage down or swings it around if the load is not a constant current draw..