Its had (very) mixed reviews in the UK. Went to see it last night.
One review I read (I think it may have been The Guardian) called it "a flawed masterpiece" and I think I pretty much go along with that.
Overall though I thought it was fantastic. It looks great, the soundtrack is really cool, the action set pieces are jaw dropping at times and there is some quality shagging. On the downside it occasionally gets lost in metaphysical bollocks, Ozymandias doesnt have any back story so unless you have read the book it would be difficult to see his motivation (plus the casting for his part isnt great).
Everything to do with Rorsach is spot on, he steals every scene. The montage sequences are perfect (very The Wire!) and the weaving of historical events (Vietnam, the assisantion of JFK) into the Watchmen story really works. The two and a bit hours flew over (which is more than I can say for The Dark Knight).
For anyone who has not seen it yet its very, very violent...but thats a good thing in my book.
All in all I would definately recomend it. Its a big budget blockbuster type film that doesnt treat the audience like morons and its obviously a labour of love for Zak Snyder (though fans of the book beware, some liberties are taken with the story in the final third of the film). Ive never seen erectile dysfunction in a superhero movie before.
4/5 - not quite the sum of its parts, but a worthy adaptation nevertheless.