...I honestly can't say which way this will go but I don't think it will be first degree murder, especially since they were let out on bail.
I read that they were out on 25k bond each for 20 days until the out of town news media started spreading the story around and spinning it they way they do these things. Apparently, locally it was pretty much ignored, and the east/west coast media was all that wanted to push it once they found out about it. The DA then requested the judge up the bond, which he did to 250k as "they are a threat to the community", and now they are back in jail awaiting trial. Also, the two of them were standing up to at least four people. The NYP video is a few seconds longer and you can catch a glimpse of at least one guy to the wife's left and (per her story) the dead guy's brother was to his right slipping him the bat, so there were at least four adults. You can also see the dead guy missing a chunk of the back his skull (exit wound) laying face down in the alley.