I was thinking more about a self-oscillating power comparator, than a mcu.
If you were to do it with an mcu, you could implement it via comparators built into most mcus.
If you were to do it with adc + pwm generators, I would have a free-running adc adjusting pwm cycles.
The issue with that set-up is
1) latency: turning off the switch on or off a little bit too late could have yielded too high of a current through the load;
2) stability / range of viable loads: if you are simply designing for one load, not a big problem. But getting a mix-signal loop to stable for a wide range of loads isn't for the faint of heart.
As such, if you look at the typical mcus designed for power supplies, you will notice that they tend to be in the very high-end of mcus - 32-bit chips, fast adc + pwm generators, etc. Check out Freescale's offerings if you are interested.