bliss: what is wrong with this ?

[pmc () ASGARD HR (Marin Purgar - PMC)]

Hi!

Well, my friend said that this code sux ...

What is wrong with it ?

bliss-off.c
[begin]

/* bliss unscrambler ?  */
/* 970211 pmc () asgard hr */

#include <stdio.h>

int main () {

  int iChar;
  int iPar;
  int iNepar;

  while ( ( iChar = fgetc ( stdin ) ) != EOF ) {
    iPar = iNepar = iChar;
    iPar &= 0x00AA;
    iNepar &= 0x0055;
    iPar >>= 1;
    iNepar <<= 1;
    iChar = iPar | iNepar;
    printf ( "%c", iChar );
  }

}

[end]

bb4now,
PMC