Mark McGhee is clinging on to the belief that Albion can finish in second place after a set of results epitomising the tension of chasing promotion.
A heartbreaking first defeat in eight matches for his side was softened slightly by the failure of any of the teams in the top seven at the start of play to manufacture a victory.
McGhee reckons a maximum 21 points are now required to pip Queens Park Rangers and Bristol City, who face each other at Ashton Gate on Saturday.
The lottery of the play-offs offers a more plausible route back to Division One, although the congestion in the top half of the table is such that a place in the top six is far from guaranteed for the Seagulls, especially if they slip up at home to Hartlepool at the weekend.
Should Albion miss out they may be left to reflect on the damage done at Hillsborough for the second season running.
Last year an equaliser in the dying seconds by Finnish substitute Shefqi Kuqi deprived them of two vital points in the context of their fight for First Division survival.
This time it was a last-gasp winner from former Middlesbrough midfielder Robbie Mustoe which denied Albion a hard-earned share of an absorbing encounter, enriched by two classic strikes in the opening quarter-of-an-hour.
A right wing cross by Terry Cooke was laid off by late sub Jon Shaw for Mustoe to stab in with the outside of his right boot from inside the area.
McGhee added intrigue to the inquest. "To lose at the end the way we did was unnecessary," he said. "It was a game we were seeing out.
"I have my feelings about why it happened. I made it clear in the dressing room exactly what I thought about what went on.
"It was a hard working performance and on the day Sheffield Wednesday played well and worked very hard against us but I am still very disappointed to have lost."
McGhee refused to elaborate beyond partly blaming himself. "I take some of the responsibility," he said. "I could see something happening that was concerning me and I didn't change it.
"I should have changed it. The way we lost the game at the end was a little bit amateurish."
There was much conjecture over the meaning of McGhee's remarks. One ex-pro among the media felt he was referring to young leftback Dan Harding, who had a tough time against Cooke in the closing stages.
An alternative, and probably more viable explanation, centred around Leon Knight's contribution on his return to the club where he endured a miserable spell on loan from Chelsea last season.
One way or another, it was a disappointing afternoon for the 24-goal marksman. Branded "irresponsible and immature" by McGhee on Friday for re-igniting his feud with Sheffield Wednesday manager Chris Turner, Knight collected his eighth caution of the campaign in first-half stoppage time for a foul on Lewis McMahon.
The match ended with Knight being restrained by referee Eddie Evans after Mustoe apparently goaded him.
Reserve team coach Dean White was also involved in the incident which, although it was much ado about nothing, Albion could still have done without.
They have already pleaded guilty, along with Stockport, to an FA charge of failing to control their players following a mass confrontation towards the end of the 1-1 draw at Edgeley Park last month.
The goal which provided Wednesday with an eighth minute lead was out of anybody's control. Chris Brunt, an 18-year-old Northern Ireland midfielder from Middlesbrough's Academy, celebrated his full League debut with a left-foot free-kick from 25 yards which gave the impressive Ben Roberts no chance.
The response just six minutes later was of similar calibre and from similar range. Richard Carpenter, set up by Chris Iwelumo, beat Kevin Pressman with a right-foot drive into the top corner.
The steel city evidently brings out the best in Albion's iron-willed midfielder. Carpenter's previous away goal was at Sheffield United last season.
A recurrence of thigh trouble for captain Danny Cullip saw Guy Butters and Adam Virgo thrown together at the heart of the defence in the second half for only the second time since the ill-fated home defeat by Sheffield United which launched Steve Coppell's reign.
With Adam El-Abd introduced at rightback, Butters marshalled the reshuffled and otherwise inexperienced rearguard superbly.
No wonder Butters said: "We are just gutted. The gaffer was saying all week we can maybe afford to lose one game.
"We don't just want to settle for the play-offs. A few of the others slipped up, so a win would have been ideal for us.
"We came under a lot of pressure in the second half but stuck to the task pretty well. The three young lads around me and Ben Roberts did superbly. When the goal went in at the end I couldn't believe it."
McGhee was satisfied with the display on the right side of midfield of David Lee, making his first League start more than two years after joining Albion in place of the unavailable Gary Hart.
He ended his press conference by expressing delight for his close friend Turner, who needed a result to relieve the pressure surrounding him. Knight would, no doubt, not echo that sentiment.
ALBION (4-4-2): Roberts (gk) 8; Cullip (cd) 6, Knight (f) 6, Oatway (cm) 7, Carpenter (cm) 7, Butters (cd) 9, N. Jones (lm) 7, Virgo (rb) 7, Lee (rm) 7, Harding (lb) 7, Iwelumo (f) 7. Subs: Kuipers, Piercy, McPhee, El-Abd 6 for Cullip (injured 46), Reid.
Bookings: Cullip (15) foul, Knight (45) foul.
Scorer: Carpenter (14).
SHEFFIELD WEDNESDAY (4-4-2): Pressman; Geary, Smith, Bromby, Barry-Murphy, Brunt, McMahon, Proudlock, Ndumbu-Nsungu, Cooke, Mustoe. Subs: Poulter, Wood, Shaw for Ndumbu-Nsungu (withdrawn 86), Chambers for Cooke (withdrawn 90), Olsen.
Booking: Geary (39) foul.
Scorers: Brunt (8), Mustoe (90).
Half-Time: Wednesday 1 Albion 1.
Attendance: 19,707.
Fans' View:
OLLIE TITCOMB (aged 11, Ditchling)
We need to work on the midfield a bit more and David Lee should be taken out of the team because he doesn't tackle. Leon Knight needs to work on his strength. I thought Jonesy and Dan Harding played well.
GEORGE MARTINDALE (aged 11, Burgess Hill)
The strikers are good but Leon hasn't played too well in the grudge games against QPR and Sheffield Wednesday. We had a good left side with Harding and Jones but there was a gap in the defence when Danny Cullip went off. Realistically we're looking at the play-offs.
GRAHAM BUCKTON (Fleet, Hampshire)
It was disappointing in the second half when we struggled to get the ball out. Leon Knight wasn't performing, Lee wasn't performing and we had players on the bench who could have come on and improved the team. Adam El-Abd was really good.
JANE CRAMB (Sheffield)
Wednesday were quite poor and Albion deserved a point but we are not a very good side. Carpenter's goal was a stunning strike though.
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