"best" friends...

soo. let's discuss the recent loss (and when I say loss I do not mean death) of my best friend.. lets call her laura. She has until late been my best friend since I was 16 years old. She was an insecure girl and has always been one to put others down to make herself feel better and until recently I always looked past that and found the good in her. Recently she cheated on her boyfriend (who is deployed to afghanistan) and went to florida with a man she had met only two days prior and his two friends. She slept with him multiple times as well as shared a bed with him and another man the entire weekend. She smoked spice and drank herself silly as well as snorted percocets. I know right?? I begged her not to go and told her she was making a mistake.. a dangerous mistake.. but she went anyway. Well, low and behold she posted about this all over fb for her boyfriends godsisters to read and report back to him. Which of course they did and that relationship ended fast giving her the opppurtunity to start a monogamous "friends with benefits" relationship with lets call him Ray with whom she has no intentions in starting a real relationship. She begged my husband and I to meet Ray so we reluctantly gave in and told her that we were on our way home and to meet us at my house. When me, my husband, and my kids arrived at home her and ray were sitting on my front porch and Ray was smoking spice... which is very much illegal not to mention my husband is a military police officer and we are COMPLETELY against smoking spice in our house so after that evening laura's friend ray was no longer welcome at my house. A week after this incident her and brett(my husband) got in to a discussion about Ray smoking the spice and laura told him that my close girlfriends lets call them Bex and Chex also smoke spice and that brett should ask them all about it.. so OBVIOUSLY as im sure you can imagine the next time brett saw bex and chex he asked them about it like she had told him to do. well bex who has never smoked spice got very upset with lauras false accusations and went off on her via text message and in return laura texted me calling me shady and immature (please keep in mind I just 4 hours earlier had recieved a 3 minute long voicemail where laura's friend carol had butt dialed me and laura was talking bad about me the entire 3 minutes but i was willing to ignore it and let it slide because everyone runs their mouth at one time or another..) and proceeded to say that me and my family were just playing house and she was the grown up one of the two of us.. (so I the married woman with a family who doesnt party or do drugs at all is the one playing games and she the one who sleeps with random guys and does drugs etc is the grown up one?? whats wrong with THAT picture?) so we agreed that our friendship at this point was over and I have not spoken to her since the 1st of july. Was terminating this friendship the right thing to do? I mean everyone who knows the situation is offering me their im so sorry that happeneds but I couldnt feel better about my decision.. i feel like i took out the trash in my life so to speak...