Using a voltage regulator as a bias source

[Frank_NH]

Hi all,

I thought I'd pose this question here.

A while back I came across this schematic (below).  It's a fairly conventional overdrive, but it uses a LM7805 voltage regulator for the bias voltage rather than a simple voltage divider (of course you get 5V versus 4.5V but let's assume that's OK).  Is there any advantage to doing this?  Does it reduce noise or have any other benefits?  I know it requires a few additional parts, but it would be easy enough to insert in most overdrive/distortion circuits.