You don't really need a metering valve if you have an adjustable output regulator, because you can adjust the mix using the regulator output pressure knob. You do need some sort of an orifice, and some builders like to use a needle valve instead of an fixed orifice. The orifice will only be seeing 30-60 psi if the stick is set up right, so it is not absolutely necessary for the valve to be "perfectly" O2 clean if you are using it this way, on the low pressure output side of the regulator
It is, though, desirable to have the valve be lockable, so you can set it and lock it, and use the regulator to adjust flow, going by the output pressure, since this provides quick and easy repeatability. If you adjust using both the needle and the reg, you will have no easy reference point to return to when you start a mix, but will have to start from scratch each time.
The valve, BTW, appears to be what they call an "instrumention valve. Most of these have a very precisely adjustable, but miniscule, flow, which is usually much too little for continuous mixing.