Just saw Watchmen, they couldn't have made a better adaptation, its almost identical to the comic in both story and style.
The only problem is the format just doesn't suit a Movie, the problem was always going to be the fact that the watchmen isn't a particularly interesting storyline, its all a big social commentary, and the irregular pace and seemingly random developments just don't particularly work in the movie, hell, its the main flaw of the book too. Everything about the Watchmen is perfect, except for the plot, if they could keep the style, the characters and the social dynamic the story represents, and just make a sensible plot which seems to actually develop, rather than spontaneously coming to a big finale out of nowhere.... But sigh, forget my ranting.
I loved the film anyway, although one thing I didn't like was the changes they made to the final scene, most of that wasn't really in the style of alan moore I thought, was a bit obvious. Didn't mind the things they took out, didn't change any of the important points of the story, (I might have missed some though I guess)