buffalo,
When hiring picks up it will be everywhere, not just PSA. Apply at descent companies like asa, Wisky, skywest,rah. Things weren't bad here just 6 months ago, in fact they were pretty good for the average regional, and then something happened,(I don't know what), but now all the sudden pilot abuse is the new recreational activity. Unless sitting 60-70 hrs a month on ready reserve(at the airport for 10 hr) is your thing, you should consider other options. When choosing a regional you must consider the following. Where would I want to be stuck for the next 7 years? Things don't go according to plan in this bis most of the time. When I was hired I was told in 2 years I'd be capt. 1 1/2 years later i'm an FO on reserve being abused by scheduling, capts are no exception by the way. Your major airline capt freind is probably giving you the best info to his/her knowledge but the fact is most major pilots are completely out of touch with whats happening at the regionals, and who can blame them. most can't tell the differance between a crj/erj/beech1900 and so on.
PS. i am not just some whinny pilot, i try to find the best in every situation, but honestly under current conditions around here that is tough to do. I hope this helps in your decision, whatever it may be. best of luck