So far, recall rights are unlimited.
It's my humble opinion, that once the company gets to the staple point where as all returning pilots will be former TWA Captains and senior F/Os we are thinking the APA (the union) will trade our recall rights for something like a pension contribution, a pay raise etc.
I don't agree that there will be hiring in 2008. I don't think the recall process that has started will extend to all pilots on furlough. I don't see the economy strong enough nor have I read anything from AMR suggesting mass expansion to the tune of a recall of almost 2900 pilots.
Most of the legacy carriers have or are close to recalling all of their pilots on furlough. I have heard a number, that only 60% returned maybe as low as a percentage in the 50s. I think the furloughed seniority list at AA is slightly unique from their legacy rivals in that at other carriers the list was the pilots that had the least years of service and were usally on lower wages or B-scale rates. A hypothetical example would be, the most senior furlougheed at airline XYZ was on 4th year widebody F/O rates whereas the most junior furloughee was on new hire, first year pay.
The AA list contains many that went from their narrowbody Capt seat to the street in less than a year. Back in 2001 - 2003, it was difficult to go from making $155/hr, then get furloughed and enjoy that same lifestyle. Those kind of aviation jobs back then were not available due to the state of the industry. My point is, many will return because there are scenarios that some could return as Capts or be reinstated shortly thereafter. Thus , in my opinion, making the recall rate higher than what we have seen at the other legacy carriers. The basic factors for this: Pay rate, return to the left seat, travel passes, good retirement for now.
Therefore I think hiring won't be for another 3-5 years. The only thing that would stop that is if the APA (union) negotiates our unlimited recall rights away. By doing this they could keep the high-priced, returning TWA pilots off the property and save AMR $$$ in payroll and maybe negotiate something better for them.
Just my opinion...your miles may vary.