David, after hanging around on this site for a while you will start to see the value of lessening the size of your lawn in favor of tress, shrubs and bushes that provide something more than what lawn grass has to offer. I started out by coming here trying to get my lawn looking great. After all the good advice last year it did make a complete turnaround this spring and it does look amazing. In fact, it is pretty much self feeding now that the soil is so much better than last year. I do not plan to do anything to it this year.
Now, I am convinced that making the smaller and having it become a food source for ourselves and the
local fauna makes more sense. We did it with a severe slope we had in the backyard by adding fruit trees and bushes. We cut the back lawn size down by adding a garden too. Our plans for the front lawn include adding tall grasses, berry bushes and the like to create an area that is still attractive so it won't drive the neighbors over the edge, but performs more than the function of looking like a green carpet.
Also, we had added clover to the lawn, and don't bother to pick off the
dandelions and other weeds, as long as they aren't becoming invasive. The clover adds nitrogen so fertilizing is lessened, or eliminated. Mowing high and mulching the clippings adds back most of the nutrients the lawn needs. Much of the lawn is tall fescue that we reseeded last year with and it does not require the high nitrogen feeding of bluegrass.
Try to keep an open mind and cruise around the site for ways to make that lawn into more than just an open space that does little for wildlife and overall sustainability. The less you have to mow, the better. The more you can grow on that space to provide things for yourself and wildlife to eat is a more practical and rewarding endeavor, in my opinion.
Good luck, and have fun while doing it.