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rWell maybe, but I've seen home brew switchers fail in the field, or worse yet, do funny things like whack the battery when starting up. Dell USED to design their own switchers. Note the emphasis on used.
If I don't use a LDO I designed myself, I just buy from TI. TI seems to make cheap stuff that works. It's like National, but with quality. Granted, stuff for your personal use is different than making a product to sell.
I would need a damn good reason to result to using a switcher. Now I do agree that 5W is really too much for a LDO. If the original poster kept it reasonable (say 16V), I'd go for the LDO.