Using a resistor instead of a step-down transformer to reduce 230V AC to 3V AC for simple circuits is technically possible but impractical and unsafe. The resistor requires a constant current draw, and any load changes will affect the voltage drop, leading to potential circuit instability. A capacitor can be used to drop most of the voltage without power dissipation, but a resistor may still be necessary to limit high-frequency noise. For circuits beyond basic LEDs, additional active components are needed to manage current and voltage safely. Overall, the lack of galvanic isolation in a resistor setup increases the risk of electrocution and severe consequences in the event of a short circuit.