Unfortunately I was unable to get it working with the last rendition of the schematic.

My sister came down to the Cape from Boston the other day (shes an electrical engineer out of MIT) and she helped me with a few things (while also mocking my inept soldering skills).

She pointed out that we had R1 and R2 reversed in the equation we were using. According to the diagram on the voltage regulator package it shoud be Vout = 1.25V*(1+R2/R1). The original website where I found out about this whole thing had it wrong too, so maybe thats where we got it from.
I changed a few things around and starting off with the original basic diagram, eventually got it working.

I changed the 3.3K resistor to a 150 and used a 10K pot instead of a 1K. The 1K only went up to 750 ohms and I just couldnt get it to work with that. I still used the DPDT switch as opposed to the SPDT and I wired in the LED as recommended.
So with this configuration it works perfectly. Wether it should or not I have no idea, but it does.

So then I tried modifying what I had, to the latest version of the schematic by putting in the capacitors and resistors that were reccomended but as soon as I would do that the voltage would drop to almost nothing.
So now Im not sure what to do.
Ive got it working, but with no safeguards.

Maybe I bought the wrong kind of capacitors?