If you cant cope with feeling so bad, then I hope you can cope with feeling incredibly good. Making the decision to cut back or quit is on your own. A good way to look at it is by how much its affecting your behavior and mood. If you plan your whole day just around drinking, if you find you need one just to feel normal, if you isolate like crazy just to drink then it might be a good time to become a non-drinker for good.
Willpower takes time to build, but it starts the moment you put down. Its very interesting the rewards you reap once this happens, because it brings different clarity and perspective to your life.
Ask yourself "What does drinking give me?". If your social life evolves around it and your truely committed to stopping, then Id get some distance for a bit to find non-drinking support. In many cases, booze is a great social lubricant which distracts us from bigger underlying problem such as fear of rejection. Quitting will also kind of "test" your friends. If your friends had you best interest in mind, would they let you do this to yourself? Even after you explained to them to respect your wishes?
Being halfway in the door from cutting down and stopping is a big deal, staying there will only get you hurt. Its best to decide what you really, really want for yourself but is best done with a clear head. If you can find the way the alcohol serves you, such as a way to get out of depression, then you can get a good grasp on it to find more faster and better alternatives.
So perhaps the real answer your seeking is "how can I find more better alternatives for myself when I feel _?" Drinking is nothing more than a anchor for a emotional state change in most cases.