In my experience, I go high if I don't shoot-up for beer carbs - it's rare I drink so many beers I crash.
But wine, and liquor, if it isn't mixed with syrups, lowers by BG - sometimes dramatically, and usually after I've gone to bed. Fortunately, I wake up in a sweaty panic, eat a teaspoon of honey with a glass of water, change my clothes and go back to sleep.
This was actually my exact reaction after my first beer, on insulin!
But it seems I've "acclimated" somehow? Now I under-shoot a bit if I am eating with my alcohol, like festive parties, or dinners; I go to bed preferably somewhere over 140mg/dl, and wake up in range. I usually need to eat breakfast pretty immediately after waking up, but no more sweaty panic nights unless I really wasn't paying attention and over doing it. And I've come to treat beer like food, 'cause that's how it seems to work in my system
Most people who don't think diabetics should drink are thinking all diabetics have sever kidney/liver damage. True - it may happen eventually, but as long as your liver and kidneys are still in good shape, alcohol isn't doing you any more harm than anyone else
My only fear is the fact that low-blood-sugar and being drunk have such similar symptoms - I'd hate for my blood-sugar to go low at a time when I couldn't figure out that's what was happening and neglect to input carbs. Probably better to err on the side of eating too many pretzels, though sometimes I wake up high from a hand on automatic pilot at the pretzel bowl!
Cheers!