I fly for a US regional. Honestly, the 1,500 hour rule has done nothing but create an artificial shortage. The quality of the guys we have coming through is no better than it was when 250 hours was the minimum requirement; in many cases it's worse. We have a lot of older new hires at my airline who have come looking to start a second career in their late 40s. They have spent years flying around in their own single engine or multi engine piston aircraft, picking up awful habits and learning nothing new or of merit. Some of what I have seen in the sim is down right terrifying. Many argue with instructors over technique, trying to apply various practices used on single engine props to a 38 tonne jet. I have seen this first hand several times.
Would I like to see a 1,500 hour requirement introduced in Europe? Yes! But only because of my own selfish desire to return to the UK to fly. I find the reliance on cadets in Britain most disheartening. I've been trying to get home for 5 years now. I'm keeping my fingers crossed that Virgin follow BA's lead and continue to take a variety of backgrounds, and not just cadets.