As a 19-year military pilot, and fighter squadron director of operations and commander with service in both the RegAF and AF Reserve I hope I may provide some assistance with this question.
First and foremost, it's important to remember that one should never join any branch of the armed services unless you're 100% willing to serve your Country (and State for the ANG). Always remember that serving your country could mean dying for it as well - which is why we have a Memorial Day. It can also mean dealing with a lot of hardships - time away from home, long work hours, difficult work conditions, etc, even for part time personnel. While the services all offer some benefits, that's all that they are... benefits to help defray the challenges of dedicating yourself to service.
Are your friends in the industry that you referred to a bit older? If so they may be thinking of an earlier time when the military liked to advertise it's ability to help pay for college and technical training. In this day and age of frequent deployments, tragic losses, and demanding jobs, it's no wonder the rhetoric of free college educations and free technical training has been SIGNIFICANTLY toned down. Always keep in mind that at any time, including the day after you join a Guard or Reserve unit that unit can be "activated". When a unit is activated your part time duty has just become, very likely, a mandatory, full time job with an overseas commitment. No more college classes or cush day job! But that's okay, right? Because you joined because you wanted to SERVE, not because you wanted the benefits...
As to some more specifics. I'm less familiar with ANG requirements, but in order to be a pilot in the Air Force you need go to Air Force pilot training - a 2 year process for most weapons systems (undergraduate entry through Mission Ready status). To go to pilot training you need to be a commissioned officer. To be a commissioned officer you need to have a bachelor's degree and complete a commissioning program. To get sent to a commissioning program then to pilot training you have to find a unit that will hire you. Once they do, they'll put you on full-time orders for likely 2-3 years (training plus seasoning). Once that's done, unless you secure a full time job you go back to part-time drill status. That means you need a full time job to pay the bills. And a part time status means a very slow accumulation of hours. As stated before, to get to 750 can take quite a while for a full time dude. Part time - even longer.
Right now you don't have a bachelors degree. That means you need to need to enlist. In the RegAF and Reserves you aren't eligible for GI Bill education benefits until you have at least 90 days of active duty. Deployments can change this. But once you have benefits you can start getting your degree. Because remember, you need a degree before you can go to pilot training.
So great, you have a degree. But guess what - you're still in your old enlisted position. So now you have to get a commission... and an officer billet. A lot of units will help out with this process, but it's not a given. The Guard is definitely better than the other services. Now you have your officer billet - hopefully it's a pilot position, if so then you're off to pilot training. And now we're back to my first paragraph.
But remember this issue as well - Guard and Reserve units can (and have quite often) change missions. Sometimes it's from fighters to heavies. Sometimes it's from manned aircraft to RPA's. Changing to an RPA won't exactly work wonders for a future airline career.
I'm not trying to discourage the OP at all, just trying to throw some facts and reality at him. Please don't be uninformed - friends are great references, as is this website, but take everything you hear with a grain of salt. There is no magic solution - everything has positives and negatives. Be careful with military recruiters as well, they'll often tell you whatever they think you want to hear to get you to sign up with them.
But most important, please, please, please join the Armed Services for the right reasons - service to your country, state, and people. NOT as a flight school or college financing program. Even the services themselves no longer use this as a primary part of their recruiting campaign. Please PM me if you want if you have any other questions on active duty or reserve service.