I certainly don't disagree with that. Regen is terrible for White Mage at the moment. As I have said, though, SCH's new "mastery" of the spell line has made it very difficult / unlikely for SE to actually make regen worthwhile.

Regen is broken for White Mage currently. There is no point in casting it. That's not how things should be. In practical terms, access to Regen V is currently meaningless for White Mage one way or the other (as you have said). I don't think it's too much to hope that the regen line can be fixed so that having access to Regen V as a White Mage is an asset, as regen once was. As long as SCH holds this (badly thought out, in my opinion) mastery over regen this won't happen. That is the irritation that I'm talking about.