LNK306 ratings

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I'm looking at the LNK306 part for use in an off line non-isolated Buck regulator. I need to handle up to 305VAC input. Can the LNK306 handle rectified 305VAC directly (431VDC) on it's input? I see that it says the FET is rated to 700V but I also see that it mentions 265VAC at other places in the data sheet. What is the maximum DC voltage I can feed into the part?

I plan to regulate the input down to 3.3VDC, can the LNK306 regulate down to this level?

Thanks in advance for you help.