Just being devils advocate and not really answering the original posters question. One might think....why even take the bailout money at all? The planes are leased, all the help is contracted out, and the ones that aren't just got new contracts. Why not file for bankruptcy, close shop, and start all over. Re-lease the same aircraft from Airbus (because they are hurting too, so they will take the deal), hire pilots again (TSA and Compass already closed doors, plus all the furloughs that will come, and of course us), and get a crap contract (because we are all greedy and any money will do when you're unemployed). Just an idea. Don't think they would ever do that but......Butthert and Not A Real Job both said "boo hoo, sky is falling this will be better in a month." So who knows.
In reality though, I think F9 will pull through, but we wont be F9 due to merger. Also, while I think it's a great idea to keep the logbook updated, I don't know how many jobs there will be for you to apply to. No airline will be hiring for a bit and although corporate is doing well now, I imagine that too will take a hit as companies are reeling from the economic impact. Like I said though, couldn't hurt, might help. Best of luck to everybody and if any help is needed ALPA has a lot of good resources which I'm sure you've been getting emailed about daily.