Thanks for the link, I've saved it in my wish list for consideration. I can't recall what I paid for my current regulator, but I know that cheaper units don't hold settings very well. The regulator that came with the 'kit' suffered serious flow creep in use, very annoying. I think I paid close to $100 for what I'm using now.I think for SS and small stuff like this, a water cooled torch is overkill. It is SUPER useful for heavier gauge aluminum as the amperage is way higher and you can keep welding without melting your torch. Air cooled should be fine.
Invest in a dual regulator instead!