I'll add a few more pieces of advice:
The Regionals are controlled by the Majors, and completely subject to their will. As such, you can never be completely sure that your base will not close one day. However, it's a fairly safe bet (but not a guarantee) that if you go to a Regional that is flying for a Major out of one of it's main hubs, you can be pretty sure your base won't close. (i.e. ExpressJet in IAH or EWR. Comair in ATL or JFK. Mesaba/Pinnacle in MSP or DTW. Eagle in DFW.)
I bring this up, because you have mentioned your young children several times, and my hunch is, you will love this job for awhile - but it will break your heart missing out on much of their lives, and that will become a huge sticking point for you - and ultimately, possibly a major regret.
My strong advice: DO NOT COMMUTE. Choosing a Regional to work for is like playing Roullette. You're going to be taking a huge chance, and hope that it turns out well - the Regionals are much more volatile than the Majors because they are controlled by the Majors and cannot determine their own destiny. However, one aspect that you - in particular - I think ought to consider strongly, is where their largest Major has it's main hubs, and move there once you get hired.
I'll give you a few examples: When you first get hired, you will more than likely be on reserve. Depending on what's going on with the company at the time, if you LIVE IN BASE, you may be gone for 5 days at a time - OR you may be sitting at home for weeks at a time if they are overstaffed. If you're a commuter - you will ALWAYS be gone 5 days at a time.
When you gain seniority and you can hold a schedule of your choice, if you LIVE IN BASE, you can bid for day trips, and be home every night. If you are a commuter, you will ALWAYS be gone a bare minimum of 3 nights and 4 days a week - no matter how senior you get.
When you upgrade to Captain, reread the last two paragraphs, because that will happen all over again. When you go to a major, reread those same paragraphs again.
I guess my other piece of advice would be: Take into consideration that unless you had a management job that had you traveling away from home for more than half of each year - your wife is used to you being home at night, on the weekends, on every holiday and at every family function. She's not used to being alone and dealing with the garage door breaking, the fridge blowing up, the lawn not being mowed, putting the kids to bed by herself, and going to sleep by herself for a minimum of 3 nights a week. She is probably also not used to you being gone for 2 solid months at a time for training every time you change companies, change airplanes, or change seats as you progress in your career.
I'm not short-changing your wife, but I know many a strong, independant, Pilot's Wife that has her share of heartbreak in all of this. This WILL take a toll on her, and you need to prepare her for what you're embarking on - and prepare yourself for her struggling with it.
We can all sit here and b*tch about the crappy things we deal with on a regular basis (truly, just like any other job)... But in my experience (2 Flight Schools, 2 Regionals, 1 Major, 1 Furlough and 4 moves around the country later...), the largest sticking point, heartbreak, casualty, and struggle of every Airline Pilot Family out there - is the time away from home and the toll it takes on you, your wife and your kids.
It's an awesome career, but there are some serious downsides. Best wishes.
