I was hired by a regional in 06 when things were kicking..... I had two busts that were part 61. I explained in my interview what I did wrong and what I learned from them, blah, blah, blah.

Someone said it earlier: APPLY when you can, sell the sh#t out of yourself in the interview.

On a side note, what I really learned from my two busts is that DPEs make a crapload of money, and a bust perpetuates that. Both of my "re-checks" were less that 0.3 on the Hobbs, and one of them was done in the traffic pattern. Busts are very subjective.