A driver circuit produces variable current output for an LED lighting system providing improved dimming capability and greater power efficiency when responding to industry standard lighting dimmers through the use of an input voltage monitoring circuit which variably controls the current output of a switching regulator. Output current modulation methods such as analog, PWM, Pulse Frequency Modulation, or other digital modulation, and combination or hybrid may be employed. The current invention marries such output modulation techniques with a control method which is derived through intelligent monitoring of the input voltage waveform. The circuit and method described is adapted to higher current applications such as LED lighting systems using the latest high-power LEDs.