National(2): If I'm not mistakened, the CEO of National(2) was the same guy that started America West back in '81. Hence as to why the troubles are arising. However, w/ the 757 fleet (as opposed to the 73S fleet @ HP in the '80s) the airline could rebound w/ profits.
Legend: I'm afraid AA set a death trap for them. Legend had the capital to run a sucessful business. However, they were not prepared to build a new terminal since AA brought the terminal that Legend was supposed to be in. Also, the DC-9's don't fare to well w/ the high fuel costs.
Whatever the outcome, I wish both carriers the best of luck. Every carrier, whether small or big, old or new, should be given the opportunity to compete sucessfully plus equally and contribute to the demands of the everyday traveler.