We just have to be careful and get the A type. The first page says 1% tolerance which sounds good as long as the note in the brackets isn't overlooked. Further down where the real meat is the spec says 1.20V to
1.30V for the non-A. That computes to 8% or +/-4% which can be a bit of a white knuckle ride if you want to run an LD close to the edge.Of course, one can always add a "throttling circuit" that begins to rob Vsense current when the monitor diode reaches the spec limit for laser power.
Then there are those extra functions that the fancier laser diode controllers exhibit. For example a diagnostic routine that polls the photodiode and issues a safety shut-down or alert when it detects a flaw there. Then there is the degrade/fail alert for the LD itself. All that is pretty handy when stuff is mounted in a remote location.
I often go a step further by replacing a boat load of expensive specialty amps with mundane 2N3904 and BSS123 transistors. There is usually some scoffing in design reviews when the first schematic hits the projector screen.
The LM317 is actually not that cheap. For a CW transmitter a three-cent transistor can do wonders.