First off, you are not alone!! I am not going thru this now but have already.
DD is very oral. She is 6 now. She was a binky addict, but I never gave it to her at the ped's office, I always kept it in the car, so my ped never made any comments to me about it.
My embarassment came when she was 3 and at her first visit to the pediatric dentist. Her dentist saw on the forms I filled out that DD still in fact still used one. She questioned me about it...I became

and felt like a bad parent because I hadn't had any sucess at getting her off her binky. DD loved it!! It was her most treasured possession and I couldn't just make her get rid of it!!
You know what her dentist said to me?? DON'T WORRY MOM!!!! Really, she said a binky is better than a thumb, most binky's are orthodontic shapped and do not affect the bite in any way. She said that obviously my DD had great speech (the only possible negative affect) and to just chill about it, she'll give it up when she's ready!! She also said one thing that might happen if a child has a high oral need is she could turn to thumbsucking, which is a hard habit to break sometimes and bad for your bite.
Fast forward to her being about 3 1/2, she dropped her last on in the toilet (the others had been thrown away because they were cracking and mommy wasn't buying anymore). She was upset but I had been talking about not buying anymore. I said let's go pick out a new stuffed animal and blanket instead!! She bought that idea, and she's been fine since. Though from time to time she would mention her binky, she never acted upset.
Soooooooo my advice--relax!! Do you know any 20 yr olds with binky's? Nope...
Also, her dentist said not to cut them, they become a choking hazard as small bits may break off.