I dont think a zener would be a good idea. It would cause the Dynamo to run at full output all the time and then dump the excess to earth and so could damage the Dynamo.
The original system on my bike works fine. The BTH mag-Dynamo when going full charge generates 24 watts of 6v power and so with a LED rear bulb and small headlight bulb it just about keeps up. Never overcharged the battery yet. You just need to remember to switch to charge every now and again when not using the lights to top up the battery.
Basically if it gets dark and you need the lights, get home quickly as the whole charging system really cannot cope. What I would like to do is fit a LED dipping headlight bulb to reduce the load, but I've not found one yet that runs at 6v.
Why not fit a LED "parking" lamp unit to the headlight? No beam to speak of BUT it is a highly visible emergency front light if you are stuck out after dark. See here http://www.norbsa02.freeuk.com/goffyleds.htm