If I was a Newark local and I was at ExpressJet I think I would stay there and try to make the best of it. Just be patient.

The way I see it is that EWR is a junior, but solid base for United and ExpressJet so chances of it going away, or you getting displaced out of it anytime soon are small. Also they have a good contract. Sure, you wil not get any PIC time at ExpressJet, and you should have known that, but I just don't see that as a good enough reason to make a lateral move so soon in the industry, especially if you work for a good regional with a lot of history in your home town. Also, whie ExpressJet fleet will continue to shrink, I doubt they will dissapear anytime soon.

Focus on the other perks that ExpressJet has, like being one of the favorite regionals for United to pull pilots from. I wouldn't start chasing the PIC time because if things don't work out as expected I would personally regret it greatly.

Enjoy the nice contract, the drive to work, and have a good time on the line.