Personally, when I think of "regional" b-schools, these are schools where they're a bit smaller, lesser known, and focuses their recruitments around the companies in the vicinity. Pepperdine and San Diego State University (SDSU) are more or less what I think about when it comes to recruiting.
Basing my thoughts on Pepperdine and SDSU, these schools attract those companies that are within the immediate area of the school. These companies tend to be a bit smaller, in comparison to a global firm. Compensation would tend to be a bit lower than your top b-school's average compensation. These are, in all due respect, proper assumptions supported by the employment report published by these smaller, regional schools.
When it comes to the top 20 b-schools (and perhaps the top 30-35), I really don't consider them "regional" anymore, especially as you move on down within the top 20 rank. Even though both Duke and UVA are more in the south, these schools attract all the top companies around the states. Sure, the job placement would be a bit more regional as most Darden grads who join a big firm tend to stick around the southern regions, such as Dallas, Atlanta, and DC. However, a lot of it really depends on the person and how much he/she wants to put in. In order for someone to get a job at McKinsey in Los Angeles, this person would most likely have to fly back and forth a couple of times to establish her interest in the LA firm. This is not impossible, but just need to have a bit more legwork done. If I were you, I really wouldn't worry too much about the location of the top schools too much (give and take some efforts being done to secure a job). If you're looking to work in New York post-MBA, I think it might make more sense to focus a bit more on the schools around that region, such as Columbia, NYC, and even Ross and Tuck. But it certainly doesn't mean that if you were to attend Fuqua, Darden, or Anderson that you won't be able to get a job in NY. Again, it goes back to how much work you're willing to put in to get that job in NY. I know my post is a bit long-winded, but I hope there's some answer that you can find to your question.