I am addressing several posts here.
stevebd1 said:
The centripetal acceleration of Earth equals the gravitational pull of Sun at this radius. Basically-
\frac{v^2}{r}=\frac{Gm}{r^2}
That equation is valid for circular orbits of bodies with negligible mass about some massive body. A more general expression is the vis-viva equation,
v^2 = GM\left(\frac 2 r - \frac 1 a\right)
where M is the mass of the central mass,
v is the magnitude of the velocity vector of the orbital body with respect to the central body,
r is the distance between the two bodies, and
a is the semi-major axis of the orbit.
junglist said:
ive read about the moon's orbital radius increasing by 4mm/year so is it likely that this would also be the case for planets orbiting stars?
You may have also read that the Moon is slowing the Earth's rotation rate. This means the Earth's angular momentum is decreasing. Angular momentum is a conserved quantity. The Moon's orbital angular momentum increases in lockstep with the decrease in the Earth's rotational angular momentum. The same mechanism is responsible for both phenomena: the tides that the Moon raises in the Earth's oceans (and in the Earth itself. The Earth is not quite solid, so the Earth itself has a tidal bulge.)
I will answer the second part of your question next.
does the mass of the sun decrease as it converts matter to energy? would this effect be greater than that of phenomenon that cause orbital decay (drag, etc)?
There is very little drag from the solar wind at the Earth's orbital distance from the Sun. Gravitational waves are also very, very weak. The Sun is losing mass as it converts mass into energy. It also loses mass to a lesser extent because some mass escapes the Sun in the form of the solar wind. The Earth's orbit does expand because the Sun is losing mass and also because a tidal transfer of solar rotational angular momentum to Earth orbital angular momentum. The former effect is tiny; the latter affect is extremely tiny. While the gravitational force is an inverse square law, tidal effects are an inverse cube law. The tidal transfer of angular momentum from the Sun to the Earth is a very small effect.
junglist said:
are these gravitational waves due to surface irregularities?
They result from the mere act of orbiting. They are also very small. The gravity waves resulting from the Earth orbiting about the Sun have all of 313 watts of power, or four 75 watt light bulbs. The wikipedia article on gravitational waves is a good start. It is, however, just a start. Like everything on wiki, beware. That silly stuff about a mountain on a neutron star is just that -- silly, and maybe even misleading.