Picky
I looked for a flying job for a long time. It's hard to get out of the instructor rut.You're lucky you have the military flight training, however I don't think Regionals would touch you until you get more T.T. I would apply with Both, Interview with both and go to the one that works best to suit your needs. Either way you go, you will have a good career. In my New hire training at Pinnacle we had a CHTQ ERJ Capt. who lived in Minneapolis and was tired of commuting, so he came to Pinnacle. Now he lives in MSP and doesn't have to commute to work anymore, not only that, but he was fortunate enough to upgrade to Captain right off the bat, however he will sit reserve for awhile, but who cares really, at least he's at home. Each Regional offers different things. Go with the one who for 1. will hire you. 2. will work best for you. You can't look at it like both airlines will hire you, because that's not always the case. One day they hire guys and gals with brown hair, the next day they hire guys with blonde hair.
Yes things at pinnacle will slow down. Upgrades are rumored to halt soon and I'm sure the hiring will cease by the end of this year unless we expand more which we may or may not?? Who knows?? rumors,rumors,rumors.
Opinion being stated here, I think it's wrong that a regional will not hire a guy like you with your flight time and experience, but they'll hire these Gulfstream guys who come in thinking they are Gods gift to the industry. Anyone can go to Gulstream if they got the $$$, however only a few special people are selected to be military pilots and make it through training. That being said, try applying with the regionals. Never hurts. All they can say is "NO" talk to us in 6 months. Good luck