Ideal power supply for ESP8266
Yes, that will work. However, ignore the entire description.

That is NOT a buck regulator - it is a low-dropout linear regulator.  Thus it will waste power as heat - the more current you draw the hotter it will get.

The '1117' range of regulators are pretty much ubiquitous. I use them in a wide range of products and situations where power consumption isn't critical (i.e., not battery based products). 

For lower power requirements you want to get a real buck regulator. Something more like this: http://www.ebay.co.uk/itm/301842020065 

Note that it's an adjustable module, and you will need to first use a multimeter to adjust the output to 3.3V before you connect it up. 

Because they are adjustable they are a great thing to keep around since you can use them for all sorts of different situations.