With alcohol consumption, if you take insulin or the oral diabetes pills, you run the risk of having a low blood sugar.
The alcohol will block the liver's ability to turn stored energy into glucose, so the medication may work to lower your blood sugar, but your body may not have the ability to compensate for this, thus drinking alcohol (especially on an empty stomach) is not recommended.
As for diabetes and the actual blood alcohol content, not really - the blood alcohol content and the rate at which your body processes it is determined by your sex, and your liver enzymes (which can be "revved" up in chronic drinkers).
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M.D. - Neurological Surgery