Bog_G, there's another regulator in the schematics, REF02, that gives 5V. This is (should be) a high precision low noise regulator. 0.05% resistors are setting the output voltage in relation to this one, not the one generated by the LM regulators, so their precision is not wasted. It would be a waste of money otherwise, indeed
On the other hand, I don't recall seeing any resistors of such precision. Even the most expensive stuff I've seen and have - Caddock and Vishay - are still "only" 1% or 0.5% at best. I'd like to know what brand is Kevin planning on using here - maybe tantalums go that low?