Basically, yes. you would still probably want a needle valve to be in line somewhere, and a good means of dissolving the CO2 into the water. Then you want to make sure that you have pretty low surface agitation so that the CO2 stays in the water.
Ideally, you want a 2 stage regulator to prevent "end of tank dump" - but these tend to be tough to find in the hobby. If you go search on auction sites, look for Victor, Matheson and other regulators favored by lab folks. If you go this route, be prepared to spend a considerable amount of quality time picking through brass fittings at your local hardware store so you can daisy-chain your bubble counter, needle valve, solenoid etc. etc. together.
I think that one come with a needle valve with it. So that might be a good buy then, they also sell canisters, and the are located with 1 hour of me so I could go get it from them.