If you have 1/2" pipe serving the whole house, I'd bet that the regulator isn't the limiting factor. I've never seen one with 1/2" fittings and they typically size the fittings to accomodate the capacity of the device. Around here, typically you have 1" pipe coming in from the street, 3/4" pipe serving major/multiple points of use in the house, 1/2" branch offs for half baths, kitchen, laundry room, etc.
It seemed there was agreement here that if you do have 1/2" going everywhere, then the safest option is to replace it with 3/4" leaving the regulator, then one branch off to the new bath with either
1/2 or 3/4 and the other branch gets connected to the existing rest of the house. If the rest of the house heads over towards the new bath anyway, then just replace that section with 3/4". That gives you 3/4" most of the way to the new bath and leaves the rest of the house mostly better off too.