醉生梦死
Does it mean that you will have a dream-death if you lead a drunken life?
Or does it mean that a drunken life is like a dream-death?
Or does it mean something else?
Is a dream-death a bad thing?
I would also like to know what context it might be used in and if it is a well-known saying.

Question

醉生梦死          
Does it mean that you will have a dream-death if you lead a drunken life? 
Or does it mean that a drunken life is like a dream-death? 
Or does it mean something else? 
Is a dream-death a bad thing? 
I would also like to know what context it might be used in and if it is a well-known saying.

Answer

醉生梦死 [zuì shēng mèng sǐ] 

1. 像在醉梦中那样昏昏沉沉度日。形容生活目的不明确，糊里糊涂。 
Describe the purpose of life is not clear, confused. 
2. 也作“醉死梦生”。 
we can say also :zui si meng sheng 
For exemple: 
1. 这位年轻人过着没有目标的生活，整天醉生梦死。 
The young man is leading an aimless life, drinking all the day. 
2.一切有志者都不应该醉生梦死，浑浑噩噩地虚度年华。 
All aspiring should not live in dreams,  idle away. 

so In summary, the word has derogatory sense

Answer

well,this idiom always  has some derogatory,;may critise some has a more nagative life,while she or he haven't found it or be more specific she or he like it personally.

Answer

actually ，we don't usually use “醉死梦生”，“醉生梦死”is just enough。