I'm of the same thought of alm, I don't think putting the ADC-MCU-DAC cascade directly in the control chain would be a good idea. On the contrary, if you use them to provide reference for your linear regulator, that of course works. For example, some colleagues here in the lab use a PIC as the "brain" in little SMPS for photovoltaic applications. In the FW they implement maximum power tracking (MPPT) and battery/supercap managing, but PIC outputs (PWM then filtered) are given as reference to external switching regulators (usually as current ref).