If and when the "Watchmen" film comes out on DVD, I see some great Fanedit possibilities here guys. Below is some info taken from Wikipedia.
"Tales of the Black Freighter", a comic within the "Watchmen" comic, will be adapted as a direct-to-video animated feature, which will be released on March 11, 2009. It was originally included in the script, but was cut due to budget restrictions, because the segment would have added $20 million to the budget, as Snyder wanted to film it in a stylized manner reminiscent of 300. Snyder considered including the animated film in the final cut, but the film was already approaching a three hour running time. Gerard Butler, who starred in 300, voices the Captain in the film, having been promised a role in the film, which never materialized.
"The Tales of the Black Freighter" DVD will also include "Under the Hood", a documentary detailing the characters' backstories, which takes its title from that of Hollis Mason's memoirs in the graphic novel. The actors were allowed to improvise during filming interviews in character. The film itself is scheduled to be released on DVD four months after "Tales of the Black Freighter", and Warner Bros. is thought to be considering releasing an extended version, with the animated film edited back into the main picture. Snyder expected this final version will be three hours and twenty-five minutes long. In addition, a dozen short films (each around twenty minutes in length) will be released on the internet, using narration over animated panels of the comic strip to familiarize newcomers to the story. These may also be released on DVD. http://en.wikipedia.org/wiki/Watchmen_(film)
Now if Warner Bros. does not do this, It might be fun to edit all this stuff together to make a super long Watchmen film. Or it may be possible to cut it into 12 Episodes. We will just have to wait to see the finished film (and also what they plan to do with the DVD release of "Watchmen" that is set to follow the feature film 4 months later) to be sure. But I am up for doing this edit if Warner Bros. (or Fox) is not.