Regis was already semi-(in)famous by the 1970s, so Cronin's intro was probably nothing more than a pop culture reference.
From Wikipedia:
"Philbin gained his first national exposure in 1967 as Joey Bishop's sidekick on The Joey Bishop Show[20] on television (1967–1969). In a Johnny Carson-Ed McMahon vein, Bishop would playfully tease Philbin and Philbin would take the barbs in stride. Philbin, however, got his feelings wounded when he learned from the network grapevine that ABC executives were dissatisfied with his work and his thick accent. In response, Philbin, during the opening of one of the programs in 1968, suddenly stopped the show with an unplanned diatribe about 'not being wanted and letting down" the program and abruptly quit on air. A few nights later, assured by Bishop that all was well and the barbs were not personal, Philbin returned, in perhaps one of the oddest developments in live late night television history. When The Joey Bishop Show was canceled, Bishop returned the favor and walked off the show on the air unannounced, leaving Philbin to successfully carry the night on his own."
