Some good thoughts here. I agree almost completely with terrierman.
When it comes right down to:
If greyhound racing was carried out with the same consideration to the dogs health, happiness, and the well-being of the breed as a responsible breeding program, would you not agree with it?
...this is where I show my extremism. I believe what you propose is a best case for THIS world. Unlikely, but much more likely than in my DREAM world, where no creature is a slave in any sense.
(yes, I'm a vegan! )
The problem with almost any plan, however wonderful, is the people who will then carry it out.