It really depends on what you want out of aviation. If your goal is to just fly for a major airline, then you don't have as many options and routes. The industry has marginalized the pilot role at the regional level (or it started that way) and if it won't support you monetarily, then there isn't much to debate. It didn't support me, so I found other things to do in aviation that still include flying. You can either "wait it out" to see if they get real desperate, all the while making headway in some other area or form of piloting, or you can throw all your money in and "call". If there is supposed to be some sort of dramatic pilot shortage (which there isn't with regionals being dissolved), waiting it out may not be a bad idea. If it just "jams right back up" with no movement, would you have been truly satisfied to be a 737 FO your entire career with no hope of moving up until maybe when you are 60?

The advice to get your ATP is decent, it opens up more doors. In fact, skip that though and save up some money to do it in a L6 sim and get a type rating at the same time. That won't pay off right here and now, but you can always put on an application that you have a type rating, which does get some notice.

Do you want to go corporate?
Do you want to work aviation insurance? (they fly themselves around)
Do you want to work for fish and game or the forest department? (fun and exciting low-level flying)
Do you want to get into flight testing?
Do you want to get into high-end instructing, either in terms of giving people type ratings or "executive" type customers? (good money, and if you aren't flying, you can probably afford to) Aerobatics?

Do you want to get into the aviation industry in a capacity that makes a difference and furthers aviation and leaves you with enough $$$ to fly your own plane wherever you want?

These are some hard questions. Many of these do not require an "airline" route. Many do require some additional schooling and/or experience you won't get in the airlines. Many of these are great careers and can lead to flying jets (and being Captain) in their respective areas. I wouldn't recommend to jump off into a regional. At 60K I was doing just fine as an instructor To earn that much you got to work your rear end off and make some sacrifices, but it can be worth it in the end, much more than fighting it out at the regional and worrying about how you are going to pay rent, while you are responsible for taking passengers up to 30,000 and back down across the country.

The problem I see is that too many people think the end goal is 777, 747 or A380 internationally. Compared to how many aviation jobs there are out there, there just aren't all that many in this category for pilots. It's not realistic that you can be an outstanding pilot and just "get there" through normal attrition and your merits. It's great to have goals, but being a commercial/ATP pilot does not mean you have to be an airline pilot. Unfortunately, from day one, that is kind of drilled into all of our heads. We never stop to actually consider what flying is and how it is fun. I just got back from making an awesome wheel-landing and I wouldn't trade that right now for anything.