I'm an electronics designer and will only drop a comment about the 7805. I didn't check your spec sheet but many will operate just fine at over 100C. That's above the boiling point so you can get burned by touching this part. It's your choice to bring that down with a heatsink but you are burning a lot of power using a linear regulator. This is not to write it's the wrong part. Just to address the usual 7805 can get smoking hot and still be fine.

As to Bluetooth and highspeed? Sounds like an Oxymoron to me. Bluetooth isn't known for highspeed transfers. Hope that works out for you.