I agree with you about the conservative part, and that she most likely would never come back to Big Brother (unless it was for a finale cameo or something), but I disagree that Gretel regrets doing it at all.
The show was a major platform and highlight of her career, and whether she was criticized for it towards the end or not, she did things in that role that most live television presenters these days would just absolutely not be able to handle. She held herself extremely well during her seven years on that show and, as she has stated in numerous interviews in the past, while she doesn't think back fondly of all the "frocks and wigs", I think she will always hold Big Brother in a special place and is still very proud of what she alone was able to achieve in making the show the huge phenomenon that it became in the first place.
On a personal level, Gretel was the face of Big Brother and always will be, in my opinion. A major piece of the show died when she left, and that's something no one has been able to replace or replicate since.