I saw it again this weekend, and it held up very well... I am really pleased with the movie. I think an HBO miniseries, as some have suggested, is a great idea...but for a stand alone movie I honestly can't see how the material could have been handled much better. The movie is smart, bold and challenging...and I thought the performances were great.
A lot of talk about the box office, and I always have mixed feelings about that. Box office is relevant, of course, but I don't think that box office performance should enter into the evaluation of a movie. If you think a movie is good, it is good whatever it does at the box office - and vice versa.
Lets face it, WATCHMEN is a very dark story that defies a lot of superhero/storytelling conventions. The villain's plot succeeds. There is no cathartic smackdown at the end. One of the most compelling (and arguably popular!) characters is killed at the end. There is a lot of moral compromise and ambiguity. There is quite a bit of discussion, of argument, versus outright action. And the movie version contains VERY explicit violence (and yes, some sexuality).
I was hopeful WATCHMEN could transcend a lot of this to earn big time box office success, but I am not surprised that (apparently) it didn't. The rating limits its audience, and its length limits number of showings. The non-comic book fan is going to find his/her expectations challenged - and the ads (understandably) played up the most "conventional" aspects of the movie, in superheroic sense, setting up a set of expectations the movie had no intention of delivering upon.
I think it stinks that WATCHMEN is going to be regarded as something of a failure, short term. I suspect the film will be better thought of over time... I really believe the movie will be appreciated MORE as time passes, somewhat akin to, say, BLADERUNNER. But we will see...
Shadow