DC-DC Power Isolation

I would like to add some sensors to my controller project which i completed recently (http://arduino.cc/forum/index.php/topic,109316.msg855545.html) .

The sensor circuitry requires its power to be isolated from the controller. The data output from the sensor will be opto-isolated from the input pins on the arduino chip.

The question is will the DCP021212 do the trick: http://www.ti.com/lit/ds/symlink/dcp021212.pdf.

The sensor circuitry is low power draw and requires +12V input. Would using the DCP021212 achieve the same result as using a separate transformer power supply to galvanically isolate the sensor from the controller board?

Thx in adavance as usual... sorry for the n00b questions in advance.

Yes it meets the spec for an isolated supply It will draw about 200 mA to supply 167mA @ 12V with a 1KV isolation barrier . I hope this helps.