The characters and the mood are excellent: The Comedian, Dr, Manhattan and Rohrschach especially. There is a good comic-book feel, and the use of music manages to capture a lot of essence of the original. The direction--in flashes--is grimly inspired. It fails, however, for three reasons. 1) The ending limps, especially the fight scenes between Ozymandias, Night Owl, and Rorhschach, as well as the overdone moralizing by Night Owl. The last really good moment is when Night Owl and Rohrschach get out of Archie and head for the Antarctic Karnak. 2) It's too long as a movie and too short for an HBO mini-series, which it really should have been. The length made me ... tired. But on the other hand the brevity left out a lot of what made the series so important: in the graphic novel, context was equally important as plot. The minor characters (like the psychiatrist or the pair at the newsstand) are critical to understanding the world of the Watchmen. Here they become almost inside ...