Hi Jay, from my own experience and spending some time on various recovery sites, I truly believe the only way to go is abstinence. Alcoholism is a disease of body and mind and if it it could be managed any other way, we wouldnt be alcoholic. In other words if moderation is possible then i would say that person isnt alcoholic.
Alcoholics cannot reduce and drink normally for any stretch if time.
Even if we manage to do it for a bit, it eventually leads back to the destructive drinking. You will find lots of stories on this site of people making deals with themselves, trying limiting their drinking in various ways before finally coming to the inevitable conclusuion that abstience is truly the only way.
If you have spent any time on moderation websites you will see how sucessful that experiment generally is.