I'd just like to add that I found my soil analysis from last year and my organic matter is at 4.5%.

Taking into account my lack of watering, does anyone think I'd see better results by going organic.

By the way, I'm in zone 5b - south suburbs of Chicago.

Organic is better for someone like yourself, who lets their lawn 'rest' or go dormant during extreme conditions of heat, btw, other posters will ask your whereabouts, that is handy info.
Organic fertilizers can be applied anytime of year and there is little chance of harming your lawn. The watering methods you have read about will encourage the plant roots to dig deeper down for their water which will make them more drought tolerant, which can also mean a shorter dormancy period.

Grasses have been growing for eons without the help from us and they have been going dormant during the hot and dry summer with no harm to the grasses. The only reason lawns today are managed to be green during the normal summer dormant period is because someone has sold a majority of us on the idea that grass should be green when it normally wants to be dormant.
Except for the social stigma that may be applied allowing a lawn to go dormant probably is more organic then pouring as much water on the lawns as we do would be.

As I read more about organic lawn care, it seems that I would actually be better off going organic. From what I've read, organic lawn care makes the soil better for taking and holding water. So when it does rain, my soil will actually get more of a benefit from it.

A well known point about soils with adequate levels of organic matter is that they soak up and hold much more water than do soils with little organic matter.