SwapBuffers(hdc) function is used to switch front and back buffer of OpenGL surface.
So, it effectively requires double-buffering. In OpenGL, your drawing is not updated to screen until you call SwapBuffers(hdc) function.
void DrawIt()
{
// Drawing OpenGL Geometry.
//
glClear(GL_COLOR_BUFFER_BIT);
//glPushMatrix();
glScalef(0.5f, 0.5f, 0.5f);
glBegin(GL_TRIANGLES);
glColor3f(1.0f, 0.0f, 0.0f);
glVertex3f(-1.0f, -1.0f, -1.0f);
glColor3f(0.0f, 1.0f, 0.0f);
glVertex3f(1.0f, -1.0f, -1.0f);
glColor3f(0.0f, 0.0f, 1.0f);
glVertex3f(0.0f, 1.0f, -1.0f);
glEnd();
//glPopMatrix();
SwapBuffers(g_hDC);
return;
}