Who Watches
Nate Morgan Locke1 has an article up on the CE website with some Christian thoughts on Watchmen.
The great thing about Watchmen is that it holds up, as it were, a mirror to human nature and reflects back at the viewer the bleak and depressing reality.
Don't read it if you don't want the ending (or bits of the middle) of the Watchmen spoiled.
1 Disclosure: Nate just told me to go check this out as he me made coffee.