The only way to do justice to the watchmen would be to split it into 2 or 3 movies, leaving out the pirate story and focusing entirely on the main characters - there's too much in the book, too much development.

I think it'll end up like Captain Corellis Mandolin... Shit (But missing Nick Cages hilarious 'accent')

When twilight dims the skies above
Recalling thrills of our love
There's one thing I'm certain of
Return...
I will...
to old...
BRAZIL.