If you are looking for battery power, you could also look at the MCP1700 series regulators. I have a few for projects as their Typical Quiescent Current is 1.6uA and they typically only drop 178mV, so I have used them to cheaply feed some circuits.
The disadvantage is cost and availability. I can easily get them from mouser, but with $5 min shipping, I usually don't make small orders. They are not as common on say eBay or other overseas suppliers. also, there is an MCP1702 that doesn't work well for some folks, so I stick with the MCP1700.
Now that I know more, I would be more tempted by an LM1117/AMS1117 that is signaled via a transistor on a pin so I could shut down the chip, then the regulator when sleeping if I wanted to be cheap.
