When did you get hired? Sounds like you may have been in the tail end of the "BOOM" December or January.
Are you flying or on reserve. I have heard there has been a little more reserve than normal. I heard they did a little overhiring at the tail end of last year.
The summer is here and there should be a little more flying around so if you are on reserve you might get a better line with some internal movement.
I would say to at least stick out your year training contract. you do not want to have to pay for your training....and yes they are using lawyers to collect if you leave early.
As you have heard on many posts here upgrade time is always changing what may be 2 years today could be 1 year tommorrow.
My friend who got on there in 2002 sat right seat on the SAAB for 20 months and he was hired with 2200 hrs and 750 multi. Many of the captains that are flying now sat right seat for 2 years. In 2002 Colgan had 6 Saabs and now it is over 40 that is a fast growth!
Look around. You will be hard pressed to find an upgrade less than 2 years almost anywhere.....
Good luck!