To answer the question, the hiring minimums are not set in stone. I got hired by CS with less than required mins. It depends on a lot of factors: pilot supply/demand, type of background/experience, current number of hours, and who you know. I would submit an application if I were you. Even better, try to establish a reputation with them. Find out if they are going to be at any jobs fairs, call them, show interest, etc.

Now back to off topic... TXpilot, you are comparing apples to oranges. The type of training military pilots receive is quite different than training in the civilian sector. They are trained to operate in an atmosphere far more dynamic than a 121 daily route system. I will give you this though, despite the quality of training, experience is still very important. Mistakes will be made due to lack of experience, but new military pilots always fly with a captain or wingman that has the experience--similar to the civilian world. The problem occurs when the regional airline's experienced personnel move on to bigger and better things. How will this affect the safety record of the regionals when only this new generation of inexperience is left behind? Only time will tell...