Fantastic.

Rating: 10/10 (25 March 2009)

I loved this movie. I have read the graphic novel (several times), and, as is the case for any film adaptation of a story originally presented with another medium, some changes had to be made. The film-makers did a really good job in picking out the important stuff and keeping true to the feel of the comic. It's a fairly dark story and has some moral ambiguities that neither the comic nor the film attempt to resolve... which is great. It's a story about people who happen to be "costumed adventurers," i.e., well-trained normal humans who fight crime in costumes. Something happens, a mystery is presented, they try to solve it, and along the way, we see where they came from and how they evolve as people. I've heard a bunch of criticisms, but in all honesty, I have no idea what these people were expecting when they bought their tickets. If, by the vague description above, you think you'll like the movie, I recommend it highly. Below are some comments that contain spoilers.
SPOILERS to follow:

Two big comments I heard was that Dr. Manhattan's exposed penis was distracting and that the sex scene between Dan and Laurie was awkward. Neither is true.

Some thought that the fighting skills of the heroes were inaccurate. Sure, OK. But, they weren't that over the top, and just about every single movie ever made with a fight scene presents that scene implausibly. Get over it.

Malin Ackerman's acting. I've never been a great judge of acting, other than extremes. I thought she was fine (yes, she could have been better, but so could everyone). Also, and I'm sorry to say this so bluntly, but she's really hot.

There were plenty of things left out, like the pirate comic, many back story scenes, and many present-day scenes. I thought all deletions were fine. The movie was almost three hours as it was, and I've read the comic without reading the pirate comic before. It's fine.