I've built one somewhat recently for driving a relay and it worked fine, but the large quiescent current draw irked me. I ended up using a more sophisticated solution.
I did reference the Microchip application note.
I used some surplus X2 rated capacitors, a PCB fuse, a few MOVs, and whatnot. I built a full-wave rectified version because they're more efficient. The voltage went to absolute hell in a handbasket when the relay was energized, but as long as the current was high enough to keep it reliably latched, I cared not. It ended up being fairly small, but not small enough to make me happy. As I said before, the current draw bothered me. 50mA all the time... 50mA is a lot when you're talking about mains voltage. Still ... the thing was cheap, easy to build, and most of all, it worked.
I covered mine entirely in heatshrink, by the way!
EDIT: If you want to build one but lack properly-rated components, hit me up. I love an excuse to offload some components to someone else who will use them.
EDIT #2: Are X2 capacitor ratings for capacitors I might have (in the US) even qualify in regions that use 220VAC/50Hz mains power? X2 capacitors seem to be typically rated for 250VAC or 275VAC. That's plenty of headroom when it comes to the range of 110VAC to 130VAC typically seen in The States, but surely not in areas with native 200VAC+ mains. I also have capacitors rated for 400V+, but not X-rated (heh...) ones.