I got two VPs of my company to take tequila shots with me. Was a good decision for developing a good rapport with people higher up than my boss.
Just depends on how you get when you drink and how much you drink really. If after you have 5-6 drinks you have the god damned lampshade on your head doing the macarena on the pool table leering at the receptionist's tits, then yeah, probably shouldn't be drinking.
If you can drink like a human being and just end up loosening everyone up, I think it can be a good thing.
Offices create totally fake personalities, and you can't befriend a fake personality, so you can't make important friends.
Strip away the fake personality, make friends with the real person, then all of a sudden you have someone in a lofty position that is liable to help you out a little.