Weight, in and of itself, is a rather poor indicator of general health.
Sugar and alcohol are close cousins from a metabolic standpoint. Both of them place a large burden on your liver and your insulin/glucagon system. After a certain amount of abuse, you body will degenerate into a pre-diabetic state, and your liver will begin to "rebel" by rapidly converting sugar and alcohol to fat. The fat will concentrate around your waist area.
The location and type of fat is critically important to its effect upon your health. Sub-cutaneous fat, which is more evenly distributed throughout the body, can actually have a protective health benefit up to a certain point. Fat which is localized around the mid-section, a.k.a. the "beer gut," is associated with nearly disastrous health condition that you can imagine (heart disease, many forms of cancer, diabetes, just to name a few).
The take home message here is that sugar, specifically fructose, is terrible for you (this includes both table sugar as well as HFCS). Stack it up with alcohol with the sugary drinks, and you're just setting yourself up for disaster. Pay less attention to weight, and more attention to where it's distributed. The beloved American reverse hourglass figure should set off alarm bells - this is a serious sign that your liver has had enough of your bullshit. You do not want to piss off your liver.