Not really, no.
We can survive easily without killing these sentient beings; organically raising meat doesn't change this fact. [brief explanation of this argument here: http://www.utilitarian.net/singer/by/1995----02.htm]
The fact remains that most humans can easily avoid the additional slaughter of billions of animals. I don't think vegetarians are "kidding themselves" about saving every animal life; I bet a lot of vegetarians still swat mosquitos. That doesn't mean it's not a very good idea to reduce unnecessary slaughter of animals by a massive amount.
This professor proposes a "ruminant-pasture" model. Remember that this is not the squo - factory farming is not so good. Also, the data (datum?) for this are (is?) very sketchy; the only cited study here deals with one population of voles.
Your post also does not respond to the social and ecological motivations for vegetarianism.
http://www.all-creatures.org/mfz/myths-hitler-rb.html, not that this matters very much.
I'm still waiting for that really persuasive carniverous post to sway me back to meat-eating. In truth, meat does taste good; I just haven't seen any very good reason for eating in light of the drawbacks.