Seems like you've got a pretty good view of it Dan.
Keys to remember, much of this job isn't the flying, if it was simply the flying, we'd all love it, as flying is the reason we do this. The tiring things are job security, low pay, poor work rules, time away from home, dirty hotels, contract negotiations, and on occasion, a very very boring 2.5 Hour flight, with nothing to do, and the guy next to you isn't very talkative (or you have nothing in common).
I wouldn't tell a person not to do this job, as that's not my choice. I opted out of this job, and like Bryris, might find myself back in a cockpit in the future, depending on how much i miss the cockpit, job outlook, etc. Truth is, not everyone "hates" their job, but, there are many people who feel their job isn't suited for the life, or current events in their life. Depending on what's going on with you in the present, or the future, will really influence the way you view your ability to live the aviation lifestyle.
Also, i'd recommend getting the degree (no one wants to stay at a regional forever, and you'll need it to move up eventually). Get your ratings from someone who LOVES to fly. It'll make them all the more enjoyable, and a couple nights a week should be plenty of time to get things done, and keep from starting over every week. You could do it from ari-ben, or ATP, etc, but their biggest asset is speed (they get you done quick) you've already said that no one is hiring, so what's the rush. Get the ratings out of the way, get your instructor ratings, and see how well you enjoy getting paid to fly. Build contacts as you go, the airline cockpit may not be for you, and you could really use corporate contacts in the future as well, network.
I wish you the best of luck in your decision, it's not going to be an easy one, but, i'm sure you will find value in whichever choice you choose.