just my 2 cents,
You say 24VDC POWER, but don't tell us much about the 120V. POWER may well not be particularly suceptible to noise, and the 120VAC won't notice the 24VDC. I've done it, and don't recall any issues coming up.
Insulation rating, as dpc mentions, is a basic requirement.
Please let us all know how this works out for you! and don't forget faq731-376