"Ounce of weed grown in my garden legally, probaly not more than a couple bucks"
What makes you think legalization would permit you to grow weed in your garden? You can't distill alcohol legally without jumping through federal hoops. Taxes would be heavy on legal drugs, thus a continued black market. Did you think you were the first person to think of do it yourself dope?
What % of the market for alcohol is illegal vs legal currently? I imagine marijuana would be similar. You fail to rationalize a huge reduction vs complete elimination which isn't possible under ANY ruleset today.
I don't think it would, Gubmint will want their share of the pie.
My example is to illustrate the ridiculous fact that prohibition leads to huge profits. IE 350$ oz weed.