FTFF,
Again, great, insightful post. My son is starting his pilot career and the industry trends you mentioned are some of the same trends I see too. As with all decisions one makes in life, the underlying factors dictate individual choices. Personally I value stability more than any other factor, to include pay. My Dad's businesses went bankrupt twice, causing untold stress and trauma in my life, hence My decision to go to UPS in 94 rather than United, despite United's much higher pay at the time. Your correct about the "leveling" between cargo and pax. It's going to be a tough decision in a few years for my Son.