For now, you're going to the 767 if you get the call.

If you get hired soon, you would have the benefit of greater relative seniority than you would on the 747, but that depends on where the Classic pilots go. I assume they would all want to stay on the 747, but haven't seen any kind of bid award yet. A few might want to be top of the list as a 767 FO, despite the loss of pay, or maybe some will be forced onto the 767 instead of sitting at home for months waiting for an open class date. That's up to the company, I would guess.

How much of an advantage is it to be more senior? Hard to say since I haven't flown the line yet. Obviously good for days off/vacation. I don't know how often their schedules get changed, but the mantra here is if you're flexible, you're too rigid. 767 destinations will be more limited, but I think the international stuff will be a blast. You also have the option (or maybe you'll get stuck with it) of flying the 767 freighter for DHL. You won't go international, and i've heard (HEARD, being the operative word) it's a week on/week off type deal, so you may credit a bit less than a guy who's out 17 days, plus the whole gateway travel tax deal.

On the plus side, it's only a lower pay rate for two years, should you choose to bid 747 FO after the 3-year seat lock. A good chunk of pilots are to set to retire in 2013, and I believe half the pilot group retires by 2020.