Pedophilic? No. Cheesy? To the nth degree! Schenker's guitar playing is about the only thing that kind of saves that song. And I use the words "kind of" because I've always been of the philosophy that killer musicianship is lost when the songwriting and arrangement is not up to par.
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"One man's 'pig thief' is another man's 'swine liberator.' It's all in the marketing." - Unrepresented.