On the scale of egregious first-degree murderings of songs it's up there with The Presidents Of The USA's Video Killed The Radio Star and Wyclef's headmanglingly pointmissing Wish You Were Here.
I feel lucky to have never encountered either of these during my life. I hope I can go through the rest of my life without ever hearing them.

Side discussion: Covers that are BETTER than the originals?

A few months ago, I saw a video of Marylin Manson doing a cover of an old 80's tune (don't remember which tune) and thinking it really rocked. But perhaps it only "worked" because I had the context of the original song to go from?
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Tony Fabris