What did you think of the graphic novel Watchmen?

I liked it. 2nd place in my absolute favorite graphic novels(Batman: The Dark Knight Returns being 1st). I want to hear some thoughts on the graphic novel itself, what did you think of it? Positives and negatives. And what do think of the fact there's going to be a movie? I've seen some of the early photos on IGN.com and it looks interesting so far. I need a teaser and a theatrical trailer though, to see how its really coming along but that won't long. Come on let's hear some opinions.