Well, I finally Watched the Watchmen. I noticed that they really took effort to make the people they chose for the roles look like the way they were drawn in the book. It's a good thing that it took so long to be able to get this movie off the ground, since I don't think that lesser special effects would do this movie justice. Yes, there was a lot of ketchup (fake blood) flowing. It did capture the grittiness of mood of the comic.
I don't think a better movie could have been made (a 12 hour miniseries maybe). Definitely worth seeing once, but not something to repeat over and over again.