I'd say LR is worth it, and even if you get published, employers may still hold it against you if you don't have LR. Yes, getting published will definitely help, and it's great to have on your resume. But you'll have a MUCH harder time getting your foot in the door without Law Review filling up a line on your resume (since employers may look for that, along with your GPA/rank first).
And seriously? Only state court opinions? That's a pretty sh*tty law revew, IMO. That really sucks, and I can understand your reluctance and lack of interest. But assuming you're coming from a lower tiered school (assumption based on the ridiculousness of your flagship journal's emphasis), you really will need any distinction you can to push you ahead, and LR is an invaluable one.