Using a quality precise regulator is always fine. But I couldn't agree on using it as the voltage reference.
No matter how good your regulator is, it may vary with temperature. Regulator was engineered to drain
a high current for a acceptable regulation factor, but you can't except precision scale integrity on it's
voltage regulation.
There are voltage references which are designed specially designed for that.
such as chips which are based on bangap voltage reference principle.:
http://en.wikipedia.org/wiki/Bandgap_voltage_reference
What is your budget? Some people just connect a high quality zener diode too.
In some precise AD conversion units I have seen TPS415 device.
Maximum have selling voltage reference chips too.
http://www.maximintegrated.com/products/references/
Since you could find a good chip easy by heading to digitkey.com , so I don't need
to promote any products here know.
[voltage reference will be input to a Sigma delta encoding unit, so when you don't
have correct voltage then you will need to calibrate it. You could do that clabiration in
either software or hardware].
If I were you I just simply use software clabiration method. It's just simply a lookup table.
Don't except even your precisely fabricated Sigma Delta module will work precisely linearly.
So always you need some clabrication.