Whilst I normally agree 110% with Rabbit (he's got a better right hook than me!), I have to take a little issue...
I think he's right about Valley. There just aren't enough people at the North end of that route, and the only reason to go to Valley for the bulk of people will be to catch the ferry to Ireland. And if you're going to Irleland, why not use Air Wales direct from Cardiff in fraction of the time (and with great service I should add!)
Again, Rabbit is, I think, correct in saying that the bulk of the pax on this route will be NW Wales AMs, and there aren't many, they are a waste of money, and they won't make for a viable route.
Now the difference.... If Chester-Cardiff would be such a great idea, why not do it direct to Liverpool? AW didn't get this quite right last time; but it has to make sense to connect two proper airports rather than a proper airport and a factory, especially when that factory is owned by people who don't want commercial traffic....
TA