Ace,
I'm afraid that the last part of your post really rules out Flybe for you (the valued asset/reward part). And realistically if you have significant experience and jet command time and can get a direct entry command you'd be better off at Ryan air.
But for anyone considering Flybe, to try and give a fair view of what it is like for a DEC -
You'll join on the Q400 and it is important to remember that there will eventually be about 60 of those and only 15 E195s. So with about 600 pilots ahead of you on the seniority list (assuming any from Bacon stay) you are going to fly the dash 8 for a long time. If that doesn't frustrate you, and you can live with the fact that F/Os you fly with now will achieve jet command before you do, and that there is no chance to progress into a training role because the turboprop trainers are on jet salaries so that is dead mans shoes as well then fair enough. The Q400 has reasonable performance and a good flight deck, and the first officers you fly with will be varied in experience but nice people. Those are good things as you will be flying 4 or 6 sector days probably 5 on 2 off but quite often 6 on 2 off, invariably starting on earlies and finishing on lates. That is what it says on your roster but that is subject to change at short notice, although there is a scheduling agreement giving you some control over your life for the next 24hrs, but that is about as far as it goes.
Whilst you are flying your 6 sector days out of BHD (it doesn't matter where you are based you'll end up night stopping there eventually) crew food will be provided for you, but as Flybe are cheapskates and saved money by not fitting ovens on the dash 8 it will consist of sandwiches, pasta salad, chocolate and crisps - just perfect now the winter is starting. You can get hot drinks of course, but the cabin crew are so busy trying to clean the cabin in the twenty minute turn arounds that you'll have to make them yourself.
If you get tired of all this and need a break then you get about five weeks leave a year. Being at the bottom of the seniority list means that it may or not be available when you actually want it, but that happens in most airlines. Should you get sick then you are entitled to statutary sick pay and Bupa cover to help you get well again, and if you get so exhausted that you lose your licence you get LOL, but that reduces so that by age 55 you only get it if you lose your licence through accident, not illness. You don't have to pay for the LOL or BUPA, but you can put your family on the BUPA scheme at a reduced rate.
Should you survive all this and reach retirement age then you can collect from the pension scheme. It isn't final salary but as money purchase schemes go it is more generous than some. When you join the scheme you have to contribute 4% which the company will match. After one year they up the company contribution to 8% and after two years to 12%. You only have to put in 4% throughout. However if you want to leave before retirement but within three years of joining you will have to pay off the bond. This is a bank loan in your name taken out when you join, but as long as you stay it is invisible to you. The company pays an extra amount into your salary each month which is equal to the loan repayment. If you leave you just keep paying back the loan, there isn't a lump sum to pay off, so if the job you are going to is going to pay you more than an extra £300 per month after tax the bond is no deterrent to leaving (which is one of the reasons that there is such a high turnover of F/Os as moving from £25k on a Q400 to £45k on a boeingbus is a no brainer).
In all honesty it's a good job for youngish guys and gals to get some command experience, or for older career changers to get a quick turboprop command and then stay there as they might be to old to move onto a large jet elsewhere. Alternatively it works if Flybe are the only significant player where you want to be based and you don't want to relocate. But like I said at the beginning of this, there are better places for those with significant experience who are mobile.
Anyway, Hope that helps you all. Any other questions you could always ask at the interview - after all you could turn the job down if they offer it to you.