Frustrated with family friends?

we have friends in town that they all think they are the cats meow... the husband thinks he is still in a fraternity the wife and i were good friends yet over the past few months she is very non-chalenat and not as friendly as the past few years. one child if not put in her place one of these days will continue to think she is the queen of the playground. they hang with the sports/drinking crowd (we aren't big drinkers and because kids are different ages(only 1 yr apart) dont hang with the same sports scene. i really like the wife and we have done many family things over the yrs. do i just let this drop by the wayside or try to continue some of the friendship