As illustrated by the schematic, the design of this circuit is characterized by simplicity that is hard to beat. In addition to the two ICs, the regulator contains actually only two potentiometers and a few capacitors.
The adjustment is done by first turning potentiometer P1 to maximum (wiper to the side of the 78L05) and subsequently turning trimpot P2 until the desired maximum output voltage is reached. P1 is then used to provide a continuously adjustable voltage between this maximum and nearly zero volts.
At relatively small output currents there are no specific requirements regarding the cooling. However, when the output current exceeds 1 A, or if the input to output voltage difference is quite large, the amplifier IC has to dissipate too much power and a small heatsink is certainly appropriate.
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