Code Golf: The wave

Question

The challenge

The shortest code by character count to generate a wave from the input string.

A wave is generated by elevating (line-1) a higher character, and degrading (line+1) a lower character. Equal characters are kept on the same line (no elevating or degrading done).

Input is made of lower case characters and numbers only, letters are considered higher than numbers.

Test cases:

Input:
    1234567890qwertyuiopasdfghjklzxcvbnm

Output:
                                 z
                                l x v n
                               k   c b m
                              j
                             h
                            g
                   y   p s f
                  t u o a d
               w r   i
            9 q e
           8 0
          7
         6
        5
       4
      3
     2
    1

Input:
    31415926535897932384626433832795028841971693993751058209749445923078164062862

Output:
                9 9   8 6 6
         9 6   8 7 3 3 4 2 4  8   9   88
    3 4 5 2 5 5     2       33 3 7 5 2  4 9   9 99 7
     1 1     3                  2   0    1 7 6 3  3 5   8              8 6
                                            1        1 5 2 9      9 3 7 1 4 6 8
                                                      0   0 7 9  5 2 0     0 2 6
                                                             4 44               2

Code count includes input/output (i.e full program).

Answer 1

x86 machine code (37 bytes)

Hexdump:

6800B807BF8007BE8200B40EAC3C0D741338D8740A720481EF400181C7A000AB86C3EBE8C3

Run in MS-DOS with 50 line console, the input is taken from the command line.

E.g.

wave.com 1234567890qwertyuiopasdfghjklzxcvbnm

Download binary here

Update: Shaved off three bytes thanks to jrandomhacker