OK, I'll use FLYi's 3d quarter 2004 report to illustrate the cost of operating RJs. Here is the report: http://secfilings.nasdaq.com/filingF...F9%2F2004&pdf=

If you go to page 20, you'll see that FLYi (after removing 1.9 cents in aircraft retirement charges) had a cost per available seat mile of 19.9 cents. That number is based on an average segment length of 347 miles (page 19). Shorter stage lengths increase costs, but I'll stick with the 19.9 cents for this discussion. I'll also disregard the fact that fuel prices have skyrocketed since Jul-Sep 2004.
That is a cost of 19.9 cents per mile with 100% of the seats filled. Flights to smaller cities on RJs tend to have significantly lower load factors than the industry average mid-70%. Let's go with an average load factor of 60%; it's probably a bit on the high side.
Given a 19.9 cent cost per seat mile divided by .6 load factor times 480 nautical miles, you come up with a cost to the airline per passenger of $159.20. That's the cost to the airline for a roundtrip from IAD to GSO; it's a conservative estimate due to the short stage length and increased fuel costs. Your fair price of $120 doesn't even cover the airline's costs and is a very, very slight premium over Amtrak and Greyhound's fares (which you consider to be unreasonable alternatives).

I found out the other day that when I return to United, I won't be getting paid $50K/yr; I'll be getting paid $44K/yr. Back in 2005 as fuel prices soared, United's pilots took an 11.8% pay cut (I was looking at an outdated pay chart). If I had chosen to fly for a regional airline, my starting pay would have been under $20K/yr. I have more than 20 years' experience flying aircraft.
At least you know that the high ticket prices aren't making pilots' wallets any fatter.