Wow! I got two extremely thought out and well written responses (so far - in case anyone else jumps in)!
ST - I truly appreciate that you shared your own very personal and parallel experience.
After writing the opening post, letting it percolate some more throughout the day, seeing said friend exhibit the one-upmanship behavior twice more today, and reading what MC and ST posted, it is becoming clearer to me that I need to make a change in that friendship. I don't think I'll be comfortable "ripping the band-aid off," but I will take steps to distance and, ultimately disengage, myself.