Well, shit. If that is your response to the reply you didn't want to hear, but knew was coming anyway, why did you even have to ask?
Tri said it best: you aren't going to get a valid answer. The more you drink, the more it will hurt you're training/negatively alter your physique. Plain and simple. Only you can answer the question you asked based on how much progress you are willing to sacrifice.
Make no mistake, I am not criticizing you're decision to drink. I drink. I know it is counterproductive. I have no regrets. It's a trade off. As you said, moderation is the key, and the definition of moderation is subjective.
One last note: don't put too much faith into the lo carb shit. It's the alcohol that makes you fat anyway.