Pasteurizing kills the bad microbes. But at the same time it kills good microbes. If the udder, teats, and milking equipment are clean then raw milk shouldn't be a problem. If they aren't clean then you are taking chances.
Raw milk has many more benefits than pasteurized, BUT it completely depends on the animal and milker. The animal must be healthy, and the milker/owner/handler must be very health concious, sanitizing equipment and avoid contaminating the milk in any way.
So in general, pasteurized milk will always be safer than questionable raw milk. BUT if the raw milk comes from a good and safe source, it is better nutritionally than pasteurized.
Get to know your raw milk dairy. The dairy I buy my milk from only has 40 cows. All the cows have a name and are treated humanely...they are treated like pets really. This dairy has never had an issue with their milk since the day they were opened for business.
I have no problem giving my child raw milk from this dairy. (I grew up on raw milk and so did my mother.)
If you have a dairy run like bbh's, go raw. If you don't your next best bet is non-homogenized pasteurized milk or pasteurized cream. Avoid ULTRA-pasteurized if at all possible.
Big Dairy has done a great job of putting the fear of food in people. but like everyone says - it totally depends on where you get your milk from.
we started with dairy goats and the only time i got sick was when i broke down one day and got drive thru from the local Botulism-n-Ecoli.... never from any of the unpasteurized products what i made or milk i drank.
here is one creepy thing - if you cant/dont want to do raw dairy:
when i was in my old life i switched to organic milk and instantly dropped 5 pounds - and i didnt change anything else. that was my big wake up that there is more than what meets the eye.
we'd rather take our chances with our farm raised food then with the processed crap they are pawning off as 'good for you.'
if you have the opportunity to get your own dairy critters - go for it!