Yup, that's all it is..very simple. It isn't at all like daedal's circuit. This regulator does not require any external components when using it with an LED or practically anything else other than a laser diode. As far as the resistor, whether variable or not, you need to make sure to use one with a high enough wattage rating so it can handle the current.
Using ohms law: Watts = Volts X Amps. So worst case scenario..3.6 volts X .350ma's = 1.26 watts.
As you can see you would really need to play with different voltages to determine what would be best.