This book has been dissected back and forth since its release, so I won't spend much time trying to do the same. I found Watchmen to be an interesting read. Not for the plot, but for the way the superhero genre was deconstructed. My favorite parts where the sections in between chapters that allowed for a more in-depth look at the psyche of these costumed crusaders.
I don't really feel liking commenting on the art aspect of Watchmen, because I'm not familiar with American comics, but this particular panel left me impressed.

It never wavers too much from its destructing until the last 2 chapters, so it's here where I find fault with Watchmen. The final reveal is rather anti-climatic; it merely gives off a sense of "is that it?" In the end, Rorschach was the only one who stood up for what was right. It doesn't really matter what he did before, because he ends up being the character you feel the most sorry for. Overall, while the ending left me with a bad taste in my mouth, I still feel that it's more than worth a read.
That's all I really have to say. Told ya it was going to be short.