You know, I just went and found my copy of that issue -- I think both our interpretations are valid. Alcoholic drinks aren't actually mentioned in the script, but they're both ostentatiously carrying wine glasses the entire length of the scene, and Peter's humor, while Spidey-ish, is slightly, er ... giggly-incoherent? More than usual. ;) But I'm willing to accept "giddy on life," too.