Interestingly in the LHR vs LGW runway debate on Sky News on Monday in the question and answer section of the programme, Flybe tweeted a question asking what LHR/LGW would do to support regional connectivity? There wasn't really a definitive answer but the LHR CEO said that without the extra capacity, airlines like Flybe/Easyjet won't be able to fly from LHZr and they won't to be able to compete with other airports. He also mentioned something about flights to Scotland and the Isle of Man.
Personally I can't see a turboprop service into LHR if NQY does get ring fenced slots, a double daily jet service would be better. If LGW gets a second runway then regional connectivity isn't really going to change as most airports are already connected (NQY, GCI, JER, IOM...)