Regeneration is worse than hull in the first round, second round they are as good (assuming you have taken a hit), only at the third round can regeneration be actually better. And that is only for 1 vs 1 ship battles. In multi ship battles enemy can concentrate fire on single one making regeneration almost all cases worse than a single point of hull. Also the discovery only really shines with improved hull (or etc.).
I would usually much rather find +5 science & buy sentinent hull early for example.
I would usually much rather find +5 science & buy sentinent hull early for example.