I would like to purchase a bunch of second hand Saab 340s from NW Airlink and fly them point-to-point in smaller cities. I had my eye on Mobile, Alabama because they have very little air-service for their size and proximity to nice beaches. Flights (much like Southwest) would have short turnarounds. I'd like to have service between Nashville, Montgomery, Birmingham, Huntsville, and Mobile. Food/drinks could be bought at the gate so the galleys wouldn't be necessary and I could fit in an extra seat or two.
I like Saab 340s because they're small, efficient, and because NW is replacing theirs with CRJ, dirt cheap.
Another good market might be the Fayetteville/NW Arkansas and Springfield/Branson area for the same type of service.