Yes, that is my preferred setup on the xHaler with a 510.  I also use an 801 at 6V by unscrewing the endcap a bit.  With the RCR123A 
batteries that Drew includes in the kit and the endcap tight it produces a nice warm 5V vape with a 510 atty.  
I am really an xHaler fan, I've got a 5V nicostick I made but there is just something about the xHaler that makes it a better experience.  The switch placement is actually pretty cool, I get so used to it when I use the nicostick or Tornado I miss the xhaler setup.  And the nhaler HV e-juices are extremely good in the xhaler, great flavor and vapor for days, be sure to get some samplers when you order.