I read this years ago, of course, but read it again this year as part of a Facebook group of friends, some of whom were reading for the first time, taking it at the rate of a chapter a month, so as to recreate the experience of reading when it first came out in 1987. I had always enjoyed it, but I must say I really appreciated the detailed analysis that some people brought to it - in particular, I loved the observation that Chapter V is symmetrical, with the last frames mapping to reflect the first, advanced by a certain amount of time. Having also read V for Vendetta earlier this year, and Philip Sandifer's commentary on it, I still like Watchmen much more, and if you haven't already read it, you should. Ian has suggestions for other good comics.
This won the one and only Hugo Award for "Other Forms", in 1988, the other finalists being Wild Cards, ed. George R. R. Martin; I, Robot: The Movie, by Harlan Ellison (script for a film that was never made); The Essential Ellison: A 35-Year Retrospective, by Harlan Ellison, Terry Dowling, Richard Delap and Gil Lamont; and Cvltvre Made Stvpid, by Tom Weller. For all the criticism of the current Best Related Work category, I think it's a better solution.