I can appreciate the feeling of "stepping backwards". This economy is tough, I don't care who you are. Personally, I'd be happy making what I did 10 years ago, but that's just me. I especially love the thought of getting on with a big company and having my foot in the door. But again, that's just me.

Just a suggestion, apply to all jobs and see what happens. No need to fret over pay until you actually get an offer. And then you might be able to bargain your salary up enough to make it palatable for now. That would give you a comfort zone from which you could job hunt from again.

Wishing you the best!