as for future upgrades/movement at Colgan or any other regional for that matter minus maybe expressjet and Eagle... I was at a job fair less than 2 years ago in ATL and a few regionals (the names escape me) were offering classes to 500hr guys upon interviewing them in the hotel! I even interviewed for 2 street captain positions around the same time - Now no movement... I suspect in a year or two things may be different despite the economy.

The flood gates will reopen... and regionals like Colgan who have a ton of young capts with PIC turbine time will rush to the majors and upgrades will sky rocket again... I've lived to see 2 cycles so far...

"when your up its never as good as it seems and when your down you never think you'll be up again"

In the mean time just enjoy what your doing! Like I said- my 4 years as a pilot I never "worked" a day. (omitting recurrent of course)