I was always the one in grad school who got a bit tipsy at department gatherings. My cohort was a bit of a party cohort and things worked out okay for us. It's who we are and choose to be. I'll throw back some brews, shots, or cocktails with my family, friends, and coworkers. I don't drink and drive (anymore); I show up to work sober and ready to kick ass. I'm still a work hard play hard kinda person that lives by the whole "all things in moderation, including excess." Things have slowed down a bit in recent years, but I think it's fine to drink with faculty if that's what you are comfortable doing.