You are right, the mass is much larger, but probably somewhat smaller than the amount of CDM needed because the distribution would be disk-like rather than spherical. It's hard to find such computations in the literature. Nearly everything you see assumes a distribution appropriate to collision-less particles. There are very few papers published that actually even consider the baryonic alternative explanation for rotation curves (such as Davies paper). Davies does not go into great detail about how distributions affect rotation curves. I have yet to find a paper that addresses this general issue thoroughly, which I find quite surprising considering that rotation curves are claimed as powerful evidence of the existence of CDM. Theorists certainly should ask the questions "what mass distributions of known matter can account for the rotation curves and how much matter is required for each"?
As stated before, I believe there is some consensus that metallicity declines with radius in galaxies. If that is incorrect, I'd appreciate a reference.
Regarding the CO issue, I recently found other reasons not to expect a constant CO ratio. There is the matter of optical depth of any dense molecular clouds that exist (essentially you only see emission from a certain depth into a dense cloud. If there are molecular clouds in the outskirts, they will most certainly be colder and than those in the star-lit parts. Second I found out that CO "sticks" (condenses?) on dust particles below temperatures of 20 K. See my recent post in No Dark Matter in our Part of the Galaxy?



) and forget to look up the reference:
