You installed an MS, and you think a three terminal regulator is too complicated? Three pins, input, output and ground. How much simpler could it get?
I wouldn't suggest just hooking up stuff to the TPS 5V as the MS uses the same regulator internally which is only good fo 1A. Practially the whole MS runs off that internal regulator. How much current does the shift light draw?
Are going to run a wire from your TPS all the way under the dash? You are just asking for noise to get coupled into the TPS circuit. When noise gets on the TPS signal, your engine will start bucking like a bronco, not pretty.
You are better off doing a simple voltage divider with two resistors, but that is actuall more complicated than the $1.59 5V regulator from Radio Shack.
You can do a hack, or you can do it right.