Italian musician Giorgio Moroder, who co-wrote the song, released his version about the same time. Giorgio failed to make it a hit in the UK, but took the song to #46 in the US, also in March of 1972. It marks one of the rare times the same song was on the chart by two different artists. Moroder went on to produce a ton of hits and was recently mentioned in this article about "Danger Zone" (Kenny Loggins).
In either case, I don't think the bubble-gum pop song got its due. The lyrics have a hint of angst or victory depending on how you look at them. I find the contrast intriguing and the Moog synthesizer on the Chicory Tip version makes it even more memorable.
