Sometimes coming from that position your skillset can be 'embellished' a bit. Before you pick your path, it might be good to try some interviews and see where you already know the most... webdev vs sysadmin vs netadmin etc.

Ideally you would get a friend to walk through some scenarios with you and see how deep your knowledge really goes. It may turn out that you know a lot about web dev but not as much as you thought about sysadmin (compared to the general interviewing pool of people looking for jobs, the ones you'd be up against).

In this situation it may also be wise to accept a lower qualified job than you think you are worth (a job that you would think is beneath you). This can be quite good... you will immediately be kicking ass and will probably promote up quickly, and you will start off being more familiar and less uncomfortable. The pay will be lower, but it might actually match what you are getting now since you said you have had cuts. This will also let you pick a more comfortable upward trajectory in the new company as you figure out more about what you really like. Compare this strategy to getting a new job that is slightly above your level and freaking out daily that you arent performing well enough and having your peers and managers possibly feel like they made a mistake.

My advice is to 1) find out what your strengths are by interviewing or talking to a knowledgeable outside source, 2) find a new job in a larger company if possible and start 1 level below where you think you should be, 3) kick ass and quickly promote up.

You may also be able to work for one of those outsourced IT firms that handle IT for many companies at once (EDS etc).

Good luck. Think of this as a good thing... even though it's stressful now, you'll look back and probably be happy with your choices. Just take time and do what feels right. Try not to rush into something you don't like.