I remember that song and never liked it
I pretty much felt the same way, although I got a kick out of the dirty lyrics and how they got played on the radio. Also the sax solo (by British sax player Ronnie Ross) is pretty cool.
I never "got" Lou Reed, but a lot of influential artist types in NYC thought he was extremely cool. Also he was a smack addict, and went to the same college I went to, but a few years before I got there.