I have had it for a month but actually got it all together like a week ago
They blow out often. The new regulators can be found for cheap but they are a tricky to solder on if you don’t have the right size tip, flux, yadda yadda, I actually find it easier to solder to the board with lead free solder since that is what they all use. The easier to use leaded solder is wonky with a lead free soldered board.
What you can also do is supply 5v externally and solder to the 5v pins on the ramps. That is what I did since I screwed mine up so bad. I took apart one of those el cheapo phone chargers and soldered the 5v to the ramps 5v pins. Works good
Can I use it without the 5v regulator
Yup, you can use a power supply connected to the barrel jack or keep a powered USB connected and it is fine that way.