yes, think that means you would need to get 1.5 amps from the transformer, wich if you would use a switching regulator, you would need about 300-400A instead, so it would be better. if you were to use a LM317 regulator at full power it might be very possible to destroy it and certainli after a few minutes the termal protection will lower the voltage. i used it to power a 1.5Amp fan/6V from a 36 voltage suply and even with a large heatsink after a few minutes, 10-20, it stopped.
so the simple regualtor is out of the question