As a long time member, rare poster, but frequent reader of this forum, I just wanted to pass along my experience with all of this.
Since 1999 I have been through 4 regionals and one legacy carrier. I worked for Commutair, was interviewed and hired at Air Whiskey (in Aug 2001). I flew for Piedmont, ACA/Indy, and Comair. After my Commutair and Piedmont experiences (furloughs) I decided to go to a regional I could "retire" from if that's what it came to. Having finally "made" it to CAL that thought process was a huge mistake. I am fully aware of CAL's reputation in the past as the bottom Legacy, poor contract and pay, etc.... All that being said, my time at Continental has been 100% better than all of my regional airlines. It really is the difference between the minors and the majors. While I do still work a lot, it is not nearly as exhausting as the work done at commuters. It's far less cycles which actually equates to less work. For the most part, there is no comparison in the hotels we stay at. The layovers are longer and mostly in large cities with lots to do (no offense to cedar rapids, sioux falls, peoria, erie, etc...).
While the pay could be better, (at year four I make 86/hr. for large narrowbody), I will make in the mid 90's this year while flying about 700hrs. I suspect this is on par with or more than most RJ captains.
I write all this to say that while I thought getting on with one of the "good" regionals was a potential career move, it is not. Life is FAR BETTER at even a mediocre legacy carrier. At the regionals your flying is never your own. You will always be subject to the major partner (either management or scope). Ideally we would all be under one list or have a national pay scale or something that made the cost of flying airplanes a fixed cost and management would actually have to manage. That won't happen in my career. Scope will benefit us all. I believe that. Good luck to everyone.
KSwift