Is neutral regulator the brand? Can you read the bottle and see what it does? If it is a pH regulator, that's bad. If it is a water conditioner, that's probably okay.
Have you had a chance to read about the
nitrogen cycle? The link is in my signature.
edit:
Okay, never mind, I found it:
Neutral Regulator™ adjusts pH to neutral (pH 7.0) from either a low or high pH and maintains it there. It softens water by precipitating
calcium and
magnesium while removing any chlorine,
chloramine, or
ammonia. The use of Neutral Regulator™ makes other conditioning unnecessary. To lower pH below 7.0 use Neutral Regulator™ with Acid Regulator™ (or Discus
buffer™). To raise pH above 7.0 use with Alkaline Regulator™. All of these products will enhance and stabilize the freshwater aquarium environment
source:
http://www.seachem.com/Products/prod...Regulator.html
I think in general, you don't want to use a chemical that will mess with your pH. This is bad because it can create spikes in your pH, it works too fast. That's extremely harmful for fish, and people have reported to waking up to an entire aquarium dead.
The other problem I see is that this product removes ammonia. You don't want to remove ammonia, you just want to detoxify it. It's the food source to build up your beneficial bacteria colony in the nitrogen cycle.
I think the best conditioner for you is Prime, also by Seachem, who makes the product you have now. That also removes heavy metals, chlorine, and chloramine from tap water. It has the added benefits of detoxifying ammonia and nitrites (both lethal to fish, harmful in any quantity), and it is concentrated, so you can use very little.