I'll take my chances. Only time I've ever not been able to out run dogs was up a steep grade.
I do understand the risk of the dog getting in front of your wheel. That's why I first go toward the dog, both to throw the dog off it's line, and to give me room to move across the road as I get up to the dog.
I'd rather take my chances with a bunch of big ass dogs moving than standing still.
I agree that there is no one right way that works for everyone, ever time. Each person has to assess the situation and his/her abilities and decide on a course of action. If you have the speed and handling skills, by all means go with your strengths. I have chosen the outrun the dog option a number of times, but in this situation I felt I was better off to make a stand than to risk being taken down. Once a pack of dogs has you on the ground, you're screwed. I'm not a fast rider, even on my road bike, and on my touring, I'm even slower. Into the wind and my legs not fresh I could have been in real trouble if they decided to chase me down. We've both made it out of the situations unscathed and that's what counts. I just hope that neither of us ever has to find out we made the wrong choice.