Finally found in an article that, since SQL Server 7.0, the behavior of BCP changed since it is no longer based on the DB-Library API.
The switch "Automatic ansi to oem conversion" does not affect its behevior like it was the case with earlier versions of BCP.
There is a new option -C that serves to control the conversion behavior during BULK export (bcp out) and BULK load (bcp in).
For those of you that are interrested, see this URL:
http://support.microsoft.com/default.aspx?scid=kb;en-us;199819
Carl