On the PIC topic - back in feb when I was in CLT for tng I spoke with one of the CP's doing some interviewing about this topic.
I brought up the point of guys with 5000+ tt and no TPIC, for example a comair or horizon guy hired around 06 but could never upgrade due to the situation at his/her company. The CP mentioned that they are aware of this and that these guys even though they may not have tpic may still bring something to the table.
I would tend to think that a guy in this situation with a clean work, checkride and training history and an ATP would do just fine. It's not their fault their regional lost a contract, shrunk ect. and the upgrade gravy train stoped before they could check out.
Plus going fwd I think we will see a reluctance of regional CA's near the top of their list to leave. For example a guy hired at CHQ in 99 in his 20's now a SA or Rep CA on the 170/175/190 finds himself today in his late 30's early 40's with a house, wife and kids. Its hard for that guy to jump to the bottom of a major list when he is around 100 out of 2000 at Rep.
This leaves the junior CA's with some Tpic or senior FO's with no Tpic but a lot of TT.
Take it FWIW but this hiring cycle (cycle not boom) will be very different than the cycles from the late 70's to 9/11.