Zoom-Zoom, I don't have much to add here other than to say that, like others, I have been where you are. I know it is absolutely agonizing to try to make this decision for your loved one, when they can't communicate their wishes. Only you can really measure your kitty's quality of life. And like you said, there is so much gray area, and like Oakleaf said, it is really tough to separate feelings from facts and make a rational decision.
When the time came for us to euthanize our Jeremiah, we had someone come to the house. It was a lot less stressful for everyone than trying to take him somewhere (which always stressed him out). I still can't even write this without crying.
My thoughts are out there in the universe for you. What ever you decide, I am confident, will be right for you and your kitty.
Trek Madone - 5.5 -Brooks B-17
Trek 2.1 WSD - Brooks - B-17 - Trainer bike;
Gary Fisher - Tassajara (MTB) - Specialized Ariel