Jim, The bulbs will sort of work, but for the price and better function, the diode is the best choice. The resistors next on function, the higher watt ceramic block type can get a bit pricey.
Dan, go to YouTube and search" Lionel + phasing, +transformers" Mike R. did a very good video on phasing years ago. It is entertaining for a tutorial, and it's very informative for a "beginner", including sine wave diagrams drawn and explained. It applies to new and old units alike, and I was doing it as a kid. It's really easy to do and pretty easy to understand. Great info to spread some very important saftey with. The kind of thing only one in a million would debate over.
Robs warning shouldn't be taken lightly really. Despite my actions, my eyes are peeled like a race car driver exceeding 100mph.