If you don't use regens then I genuinely don't see the point in playing Football Manager.
Why? You can get up to about 10 seasons worth of gaming without even having to consider bringing them into your team. I rarely play more than 3-4 seasons on any game in it as I like to have numerous different ones.
The main reasons I don't like regens so much is that
A) Its very rare that you get any decent british ones, and as I usually manage english clubs so I prefer to have primarily british teams.
B) Those horrible computer generated faces! Somebody on sortioutsi created a load of facepacks of ncaa footballers to be used as faces for the regens which I will use this year if I get so far in one save game (I've really struggled to stick with one for more than 2 seasons so far in 2012)