I think your choice depends on your long term plans.
From a purely career point of view, Ryanair is the better option in my opinion. Despite all the negatives of Ryanair, the fact is you will get a jet rating on the 737. If the
ever hits the fan in the future, a 737 rating is probably one of the best to have. On top of that, the experience you gain flying all over Europe is excellent, the training is to a very high standard and the time to command is fairly quick. If you have ambitions to fly jets in other parts of the world, or indeed to do so in the UK for another operator, Ryanair is an excellent stepping stone to do this. In the
extremely unlikely event of you getting the base you want, Ryanair is an even better option as the 5/4 roster when based at home is great.
If you are at an important stage in your family life right now, the turboprop operator may be a better option. You will be safe in the knowledge that you will be based at home / close to home. You will presumably be working for a company with a much fairer management who will treat you better, thus giving you more security regarding your base if you and your partner perhaps are considering having children in the future. The experience gained flying for this operator I am sure will also be excellent; the problem perhaps is if you want to move on. It can be difficult to move from turboprop to jet in the UK. (Not impossible, just more difficult than if you already had a jet rating.) One option for this may be to move abroad as there are other airlines in the world lapping up turboprop FOs to give them their first jet job, (Eg. Flydubai.) But again this comes back to what you want in your future career / family life. I do not know which operator you speak of but you need to carefully consider how secure they are as a company. They could be the nicest fairest employer in the world, but if they go bust there is no job security at all!
To summarise and answer your other questions:
Ryanair Pros
737 rating, Great experience, very high standard of training, great stepping stone for other operators, Money still OK (but always in decline), Great roster IF you are in the base you want.
Ryanair Cons
Just read any thread on Ryanair on this website! Re commuting, it is difficult for anyone to commute at Ryanair, your roster effectively becomes 7 on 2 off. If you are unlucky and get a small base at the other side of Europe on a 5/3 roster, you WILL NOT BE ABLE TO COMMUTE at all. For a new cadet FO commuting even from an easy to reach base is probably not recommended. Unfortunately you never know what will happen next, so it is difficult to even say "you know what, we'll all move to the new base and start a new life there." They could move you again, they could even close or downsize the base. If this happens, do not expect any sympathy or compromise even if you have just moved your wife to the new location. You also need to ask yourself could you/would you want to move to bases in Morocco, southern Italy etc.
You must also plan to do your line training in a different base than the one you will start out in, and expect to be forced out of your base when you do the upgrade.
I have chosen to focus on the commuting, other stuff regarding the contractor issues etc are quite well covered in other threads.
I worked for Ryanair for 4 years and I really enjoyed it. I was lucky enough to be in the base I wanted for most of it and this made the whole experience even better. My reasons for leaving were purely to try something else, I was not unhappy there. But I was expecting to have to leave my base if I stayed to the command.
PM me if you wish to ask any other details
And finally, congratulations on finishing your training and securing a couple of jobs!