keep the door open...
Diver Driver, I have been reading about your progress too and I am profoundly sorry to hear about your frustration and desire to back out after all you did to get there. Since you are burned out and furloughed, take a vacation and get a degree as an assistant physician or whatever it is. Or, since you have a computer background maybe skip school for now and just make some money.
But I wouldn't close the door on airline flying.
1) If there is an age range and life situation appropriate to pursuing the career as an airline pilot, you are in it. In contrast, I am an over 40 guy with debts and not enough retirement bank to justify the move. I could do it but you are in a far more financially justifiable position and lifestyle for pursuing airline work and I cannot think of any demographic more suitable than yours. There are plenty of DEs and Jungles out there who love it and don't think you wouldn't love it as well.
2) If you loved flying and you must have, then you will still love it when your frustration level gets back to normal again. You will want to fly then and CFI'ing or Piper Cubbing may not be enough for you. Give it a try, the Sunday Bonanza thing is fun but some of us are meant to fly all day and such flying is not really adequate for us. We need airplanes all day long.
3) The economy will resurface eventually, and the regional airlines will spring back. It was meant to be a stepping stone anyway, remember? There have been boom times and they will return. Then you can make your move and get that ATP and all the left seat time you need.
Cheers for '09.
-Cub