Sure that's another solution if you need such a regulator and can find a fit that doesn't cost a fortune. National has a bunch. But you generally want the type with a timer as well as a comparator and reference to avoid the need for the RC network. You want time for the oscillator/PLL etc. to stabilize before removing the reset both on power up and in any other case where Vdd has gone out of spec. Some micros may provide this function.
Best regards, Spehro Pefhany