I think the biggest factor in your decision should be the amount of time with your family you are about to give up. This should not be underestimated or glazed over in your decision. Being a new hire at a regional is not a good job for a someone with a wife and kids. Down the road, schedules, pay, and overall quality of life improve dramatically but you need to be aware that in the beginning it will be very hard. Its not just the amount of time away from home but the type of time also. You'll be gone weekends, holidays, (when the majority of everyone else is at home) and a lot of your 'time home' will be during the day in the middle of the week when no one else is home. Even for those who work desk jobs who are gone for 10-12 hours a day, I think there is something to be said for at least seeing your family every night/day if only briefly. You will be away more than you are home (at first, and for most of your tenure at a regional). 4 days gone, (more if you have to commute) 3/2 days home is typical. Not the other way around. If you decide to fly professionally you and your family need to understand this and you all need to be ready for it.
If you live in domicile it is also much easier. You are right flow is valuable, but not as valuable as living in base. If you live in a domicile where there is a regional with a flow then I would go there, but don't commute for a flow, chiefly for two reasons: 1. If you're a normal professional person you will be likely able to get hired somewhere before its time for you to flow anyway and 2.We are headed into unprecedented times. Flow is a guarantee of nothing. If companies can't hire enough below you (and mathematically this is the direction we are headed in) then all bets are off. Do not sacrifice living in base or quality of life for flow, make these your priority and everything else will fall into place. I have commuted and I have lived in base. I cannot overemphasize how much better life is when you do not have to commute, especially if you have a family to go home to.
All regionals are in danger in the coming years. Don't get comfortable, things will change, just expect this and be ready for it. Sorry for the long post, but this is one of my biggest issues with the job and I would hate for someone with similar values to not know what they are getting themselves into. Now having said all that, I enjoy my work, and we are definitely in need of some good professionals so as long as you and your family are aware of the challenges and ok with them, I say come on over we would love to have you. Feel free to PM me with any questions.