Flip side to this: After the Country Bear Jamboree, Disney released Pirates of the Caribbean, so anything is possible.
Alan Moore is an AMAZING writer. He is probably the most gifted writer to ever touch the comic book medium. The Watchmen was one of the best graphic novels ever - if not the best.
That being said, there is something about comic books that fails to translate well into movie medium. Maybe it’s that in a comic book, you can kind of skip forward and backward, and in the movie, it’s all one stream. I thought Alan Moore’s V For Vandetta was an awesome comic book - the movie sucked. I thought Hellblazer, the character he created that became the Constaintine movie - was awesome. But the movie? Ick.
The Watchmen has the potentional to be the BEST movie of 2009 hands down. I’ll be there to see it no matter what.