Watchmen is a mixed bag. What I think bothers me most is not the film, but the mildly to grossly homophobic reactions I hear from the boys going to see the film. It's no wonder we have such inane sexual euphemisms like vajayjay, because these twits can't process anything that is uncomfortable about biology. And, Coyote, despite the title of the post, there's very little ball - its' all unexciting penis, hon. It's not anything to get worked up over - but it does lead me to a small criticism of Dr. Manhattan's CGI body, Doc Manhattan looks like he could wrestle for the WWE when rendered in the movie. (except he's too well endowed to be on the 'roids.)
The book has always struck me as too dense for one movie, but I think this movie is probably the best we'll get. Most of the right notes were there, even though the speed at which they assault you is tremendous. Nothing is perfect, but the tone of the film is certainly in as much step with the original material as the Watchowski's version of V for Vendetta.
V was carried - rightfully - by Natalie Portman. Hugo Weaving is a good actor and voice actor, but acting behind a exaggerated plastic mask against Portman playing her full game? Marcel Marceau would even get his butt kicked.
Oddly enough, the opposite happened in Watchmen -- Jackie Earle Haley owns Rorschach, and consequently the rest of the film, even though he spends the large majority of it behind a mask that constantly shifts patterns. (A bit too much, IMO) Jeffrey Dean Morgan, as the Comedian, is an equally forceful presence. Billy Crudup's voice for Manhattan was good, but I didn't sense the withdrawal from humanity well, perhaps because I expect that withdrawal to be more deadpan in delivery. Patrick Wilson & Malin Akerman would have been serviceable, but the tittering and lack of emotional connection I heard from the audience reinforced my opinion of the film; even with a bunch of geeks with infantile sexual maturity, a better film could have kept them from outright laughing at a bare naked male ass or from laughing at all the wrong points when said ass was getting it on. What grounded the original story was the relationship between Laurie and Dan and their status as flawed human beings - Snyder's need to develop events over charcter really cast the film adrift and choked off any chance of these two actors making a serious connection with the audience and keeping the Beavis under control.
Matthew Goode as Adrian Veidt/Ozymandias was a mixed bag. Veidt a should be a pretty boy; Goode isn't quite good-looking enough, and he's certainly too thin to be Ozy and supposedly kicking everyone's ass. Goode had an awesome command of accent and dialect - except when he inexplicably didn't. And keeping in mind the director's openness to inflicting obnoxious race or other bias when found in the original work, Snyder really made Ozy an obnoxious characterization of an androgynous overly pretentious European, when Ozy is an androgynous overly pretentious American. :)
All in all - Watchmen is a mediocre film with occasionally great moments in a whirlwind of tepid plot based off of a great piece of fiction writing, which makes it a decent way to spend 150-some minutes of your time. If you haven't read the comic, don't - you may enjoy the film more.
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