There are a million different theorys on the best way to make yourself attractive to the airlines so I can only tell you what I did.
After finishing college and at about the same point in time that you are at, I blagged another few quid off the Bank Manager and got myself an Instructors Rating. I instructed for about 9 months, got my MCC, and spoke to the then CP (Iain Huzzard) from Loganair at the BALPA Jobs Conference. Got an interview a couple of weeks later after resubmitting my CV to them.
Whether it was the Instructing, they seemed very happy with the fact that I had instructed, or the jobs conference, when everyone else was off trying to speak to the Easyjet man, I don't know. What I do know is that it took me about 20 months in total to get that first job, at the time that seemed about average amongst my mates (97 - 99).
It's one of the worst things i've had to go through so I know where you're coming from, but you'll get there in the end if you keep trying.
The other thing to bear in mind is that instructing seems to get some bad press. I loved it ,although I admit 9 months is maybe not enough time to get fed up with it, but it definately made me more confident in the cockpit and made me a better pilot.
Cheers
W-W