What is wrong with my baby?

If you can answer this question, I will be forever grateful! I'm writing this down in my blog for journeling purposes as well for a hope that someone who actually reads this blog (which seems like hardly anyone anymore) may have had a similar experience themselves or with one of their children.
Eliza has had her share of on and off again illnesses in her 9 month life. You know, basic colds, one bout with a stomach virus. No big deal, everyone does. The past month and a half have been a bit different though. It all started around the Pioneer Day holiday when she had cold like symptoms (runny nose, cough, congestion). It lasted about two weeks and then she showed improvements. Then about 5 days later, it starts up again...the runny nose, congestion, cough. Of course, I blame it on teething. That darn teething! Doesn't everyone blame it on teething?
A week and a half later, I have an appt with the doctor for her 9 month well baby checkup. It's a good thing too because the night before, she starts wheezing a bit and that morning she is having very labored breathing. Enough that it was noticeable. So the doctor checks her oxygen level and things are good there. She says her lungs sound congested and gives her a nebulizer treatment of Albuterol. This involves 15 minutes of crying because what baby that can crawl and move wants to hold still that long? Anyway, the doctor checks her again and notices that her lungs are clearer so she orders a nebulizer to go home with me and writes a prescription for Alubterol. Then I schedule a follow up appt for 3 days later. We go home and do the treatments 4 times a day and all seems well. We go back to the doctor and she says she seems to be better. Eliza still has some congestion, but no wheezing so we stop the treatments. And I must mention, during all of this she does get her first tooth!
Five days later, the runny nose starts again. It's clear, maybe teething? Then it keeps running and a few days later the cough starts again and what happens Wednesday night? My poor baby can't sleep and is sitting up in her crib screaming a scream I've never heard before. I pick her up and she is wheezing and breathing about 60 reps in a minute, which is borderline scary! I wanted to take her to Primary Children's right then, but instead we pulled out our nebulizer and gave her some Albuterol. She calmed down enough to go back to sleep, but was still having labored breathing. The next morning, she's not breathing as heavy, but still having trouble so off to the doctor again. This time we get a Nurse Practitioner because my doctor isn't available. He appears a little worried saying "a baby this young should not have lungs that sound like this". Her oxygen levels are a little lower than last time, but nothing alarming. Then we do another Albuterol around so he can listen to her lungs after the treatment and again he notices the difference. The Albuterol helps open the airway in the lungs, but it doesn't keep it open so thus the repeated treatments. He tells me he talked to my doctor and she suggested a steroid. The steroid will help keep the airways open. So this is where we are, more Albuterol and steroids for 3 days and then we wait it out for 10-14 days to see if it strikes again. He says it's either a virus, asthma or an allergen. I have another appt in two weeks to see where we are then. Now it's just the waiting game.
Has anyone else had an experience like this. Marty tells me he had something similar but was never diagnosed with asthma. He grew out of it eventually. I'm ok with dealing with this whenever she gets sick or something, but not every other week. It's just too sad for such a little baby to have to deal with this so young.