Cadet/Internship programs are pretty useless at regionals. Since they don't (cannot) give you seniority, all they are trying to do is get you emotionally invested in that company. Travel benefits might be nice, and they might give you some sim time but I wouldn't let any that cloud your priorities: fast upgrade near where you want to live.

If a regional would be your first choice anyway, go ahead and sign up if they have a cadet program, you'll get a seniority boost within your new hire class anyway.

Now if a regional has a flow program (some AA regionals, and UA just started one), that is a different consideration entirely. A guaranteed flow program could be a significant benefit. You can *probably* get hired at a major sooner off the street than waiting for the flow, but it's still a very nice backup to have. By flow I mean guaranteed job, not guaranteed interview.