1. Can't say whether or not all the recent newhires have degrees, but I'd be willing to bet that those without are in the minority. You're certainly at a disadvantage without the degree.

2. You'd be correct. Plan for at least 5 years. Anything less is pure luck.

3. Pay sucks, no gray area at all. QOL - hard to say definitively. For the past few months, my QOL has been great. I live in base though. When I used to commute, it's was rather unpleasant.

With your quals, you should be able to get a regional job quite easily. If it makes any difference to you, you may not even have to do the ATP checkride, just the CPL + ATP written, as the airline will give you an ATP during training.

I don't know if you have any roots here as yet (family etc.), but i would HIGHLY recommend finding an airline in a city where you wouldn't have to commute. Commuting is HELL.

Funny that you're looking to come here. I've seen a couple jobs in your region that I'd be happy to go to, if I had the right passport...