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Good regulator, does exactly what it supposed to and puts out a steady 5V. It is 100% compatible with the Funnyplaying IPS screen and it's feature that lets you control brightness with the contrast wheel. You just need to leave the old regulator in place but snip/remove the pin labeled Vdd, pin 6 on the screen side of the old regulator board. It's the top pin of the group of 3 pins, next to the capacitor and where the top yellow wire is soldered too in the pictures.
This board is awesome but I can confirm as well that when you use the funnyplaying and clone IPS screens and even the factory screen you loose the contrast functionality. Handheld legend please let know retro six so they can address that issue.