In need of unbias friendship advice!?

My best friend and I have known each other for almost 12 years. We used to be extremely close but then began to grow apart. She is also a big procrastinator so she left her work to the last minute and cancelled our plans a lot. We started seeing each other only about every other month (sometimes less) during college. The final straw was when she met a guy she became obsessed with and asked me for advice all the time ---which would've been fine except for the fact that talking about this guy was the ONLY thing we ever talked about. We barely had a friendship outside of talking about this guy. And after she ended things with him, we barely talked at all (we talked maybe once or twice a month usually initiated by me). On top of this, we have grown into different people and her general comments sometimes piss me off.

So I guess I got sick of it. I told her if we were going to continue to be friends we needed to reconnect and she needed to put in more effort. And she is. She REALLY is. Almost desperately so. But now I feel bad because I think that I'm kind of over the friendship due to the last 1-2 years of neglect...

Am I being a cold person? Should I give the friendship another chance or what? On one hand I don't want to throw away a 12 year friendship but on the other hand I feel like this has been a long time coming...