I think there are solutions, but there are no cheap solutions and the regionals are going to have to be creative. Unfortunately for the airline industry, you can't create pilots overnight. It takes time to "make" pilots, and in order for the regionals to get ahead of the pilot shortage curve (assuming a serious shortage materializes), they should have started programs a couple of years ago. But again, that would cost money and energy and regional airline management would never expend either of those things for pilots. Regional airline management tends to be more reactive than proactive when it comes to stuff like this.
If things got really desperate, the regional airlines could have all the 1,000 hr. pilots they wanted. How? Raise salaries....but that's crazy talk!
Or.....Go to the universities/flight programs that will qualify for the 1,000 hour exemption. They could interview pilots at their Junior (3rd year) level in University and pick their favorite candidates.
The regional rents an airplane for that pilot and picks up the tab for that 700 hours. The candidate would be expected to fly 700 hours during the summer of his Junior year and finish up the hours during his Senior year. Let's say the airplane rental costs the regional $120/hour. Cost to the regional airline: around $84,000.
Expensive, yes. But by doing this, the regional airline could stick with their same crappy pay scales because the "enticement" would be that 700 hours of flight time in exchange for some sort of commitment from the pilot candidate. Let's say it's a 4 year commitment and the plane could be rented for $120/hr by the airline. $84,000/4 = $21,000 per year if the airline amortizes that expense over the 4 year commitment. The regional is still getting a hell of a deal because they can pay their crappy $20,000/year salaries and still get pilots. In essence, all they would be doing is "paying" that $21,000 a year up front instead of having to pay a higher salary in order to attract pilots in the first place, but this method guarantees candidates of their choosing.
If the regionals got really creative, they could come up with a "curriculum" that a potential pilot would have to follow during that 700 hours (XXX night hours, XXX instrument XC, etc.), thereby avoiding Roger Cohen's (well-tanned head of the Regional Airline Association) "banner towing" and "flying in circles," which of course is the way the rest of us obtained our flying experience before going to the regionals and then the majors (he-he).