Correct me if I'm wrong anyone, but with 400tt that is seriously pushing it unless he came out of one of the big name schools and had a jet course in there. I'm on a trip with an interviewing captain at my regional, and he said that right now most candidates have 600-700tt. Also, I know you are really eager to get on with a regional, but why not build a little more time or get the MEI. In the end, failing out of training would be far worse than spending some extra time flight instructing.

And if and when you get on with one of your "low end" regionals, screw them hard and screw them fast. Its your career, not theirs.