I haven't seen the movie but after watching a long documentary about super hero comics (in which the comic Watchmen was mentioned) during this recent summer break, I decided to pick it up from the library.
I never got around to reading the book and when I skimmed through I saw a blue man and a creepy looking red-haired man. I decided that the book was about the blue man.
Later, the same summer, I saw that Watchmen was on TV and when I tuned into it I heard a scratchy voice, a hobo-jacket, and saw the creepiest mask ever. I thought it wasn't Watchmen because it didn't have the blue guy.
This school year I received a relatively 'nerdy' English teacher who forced Watchmen onto us (instead of the planned 'Tale of Two Cities) after winter break. And I must say, best 3 days of my life.
The book was wonderful and I can't wait to watch the film for the first time. Though sometimes I look back and laugh at myself for not reading the book in the first place.
So, my answer is yes....but the other way around.