(4) 250 hours of flight time in an airplane as a pilot in command, or as second in command performing the duties of pilot in command while under the supervision of a pilot in command, or any combination thereof, which includes at least—
(i) 100 hours of cross-country flight time; and
(ii) 25 hours of night flight time.
.
You forgot to bold the big one for me. We've had guys getting to the airline lately with less than the minimum on PIC to get a commercial rating. Even then, most of that time wasn't where they were making the decisions. They could just turn their head to the left, look at their instructor and say "What now?" Hell, I'm all for a solo requirement past what's required for the commercial.
And no, I'm not currently looking for a non-CFI job. The main grip I've heard from people that don't want to CFI however (and this has been true since I got into aviation 8 years ago) has been "There's no jobs out there." Then you point them to a job, and the response is "I don't want to move that far." You can even take that into the CFI realm when some people complain about not being able to find a CFI job.
Point is, things are tough all over right now. Tried to look for a regional job lately? How about the majors? When things start moving again, those other jobs are gonna free up as well. If you don't like the rule, then tell the FAA. Write 'em a letter. Personally, I think we need more experienced guys in the right seat at the regionals. Scares me when I fly through a cloud, and my FO looks at me and says "Awesome!" because it's his first time in IMC. BTW, that's a true story from a MEM-JAX flight. I can understand if you flew 700-1000 hours in Arizona, but you've probably got other things in your bag of tricks to make up for it. If you're sitting at 230 and about 60 hours of PIC, probably not.
The 200-250 hour wonders may have been an anomaly at ASA (since Trip7 said it, it must be, right?), but they weren't all that uncommon here for a LOOOONG time. Guys would come here because all the higher time guys were going to better regionals, they get some time in, then THEY would go to the better regionals. Hence the reason management wanted to offer first "bonus pay" for people staying past 6 months, then a raise for FOs (and FOs only) in order to retain some of those people.
Before someone accuses me of "pulling up the ladder," I would have been for this rule even if I DIDN'T qualify for the ATP. I knew when I got started that I likely would be doing CFI/traffic watch/banner towing/VFR 135/whatever until I got 1200, then the plan was to go to Flight Express or another freight carrier until I could get on with an airline. If the turbine time was there at the freight carrier, I might have even stayed until I got on with a major. I had an opportunity to jump right around the 1000 hour mark, and I took it. I don't begrudge anyone with low time for getting a job at the regionals. I would have to in their place. HOWEVER, I felt, even with 1000 hours, 250 multi and oodles of instrument and cross country, I wasn't ready for the leap and was likely ballast in the right seat for my CAs the first couple of months.
We've got some guys in ATL at 9E that are probably sweating this, too, hoping they grandfather in people below the requirements if it happens.