What effect does switching frequency of voltage converter have on my project?

Thanks guys, so the datasheet for the radio module provides a schematic for the power supply (9.6V and 5V) and uses these regulators here to achieve that which are not linear...

The problem with them is that they are only a step down, and they are $23 a piece!

So that being said, if the datasheet suggests using a variable regulator with this RF module, then I suppose it may still be possible to go without the linear reg? I'm just trying to cut down on the component count, but if it's highly advised against doing this then I can make it work with the combination of the two regulators.