SMPS generate quite a bit of switching noise which can get into your circuit: first, through the power supply, unless you filter it out really well, and second, through magnetic coupling, unless you shield both your transmitter and your supply as well as you can. Even with filtering and shielding the noise may not go away, and many people would suggest you to try mains transformers + linear regulators for noise sensitive applications that require moderate power.
If you want to stick to SMPS, try the following: shield both your transmitter and power supply with grounded metal boxes. Liberally filter both the input and output of your SMPS with ferrite beads and capacitors. Watch the output of your SMPS with an 'scope: if there remains significant noise at about 33Khz (and harmonics), consider some additional filtering, perhaps a capacitance multiplier. If your power supply is far from the transmitter, twist the supply wires to reduce pickup. To be honest, I've never stuck too long with SMPS after getting bad performance in transmitters, so I never tried to push the idea. I switched to linear regulators.
The fact that with a 7805 you get lots of less power may depend on your circuit, or the antenna you are using. At these frequencies, an antenna needs to be quite big to be efficient.