"The first [driving a LED from a port pin] is a bad idea, and the second [using a transistor] is a proper solution."

Not necessarily: If the port pin's ratings are sufficient, there is absolutely nothing wrong with directly connecting a LED (with suitable current-limit, of course); in this case (and in the absence of any other requirements/restrictions), a transistor would be an unnecessary complication - a waste!

"A voltage regulator is an integrated circuit"

Again, not necessarily: you can build a voltage regulator from discrete components (possibly including op-amps) if you want to!

"Andy was faster"

Taner beat us both to it!