Victor is a good brand and for the price $229 I doubt it has two-stage regulators. What's the big deal with two-stage you might ask? From the Welding Web forum:

Two stage regs are often used when large volumes are required. Stepping the gas down in 2 stages rather than all at once helps prevent regs from freezing up. Also you get less variation in a 2 stage reg. As you tank pressure drops in a single stage reg the reg has to continually adjust the output to remain the same. This can cause small changes in pressure at the output. On a 2 stage reg the intermediate pressure is set at say 175psi, that means that the last stage is always seeing 175 psi +- a few psi and then regulating that down to outlet pressure. Source: http://weldingweb.com/showthread.php?t=35206