I am decent - or the opposite (8)

I believe the answer is:

immodest

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'or the opposite' is the definition.
I can't tell whether this definition defines the answer.

'i am decent' is the wordplay.
'i am' becomes 'I'm'.
'decent' becomes 'modest' (similar in meaning).
'im'+'modest'='IMMODEST'

Can you help me to learn more?

(Other definitions for immodest that I've seen before include "Not humble or decorous" , "Cheeky" , "Offending against sexual mores in appearance" , "Boastful, given to showing off" , "Bigheaded" .)

I've seen this clue in The Mirror.

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