QFT. The big showdown with Veidt - gripping in the GN, because of the slow burn of the dialogue and emotions - left me cold; the mini-scuffles completely distracted me from the intended scene. I also thought there was something self-aware and parodic about how the GN never explained or addressed just how these non-super vigilantes were able to be effective. Actually showing them as competent asskickers, I think, misinterpreted the spirit of the work.It seemed to adhere to the original work visually. It was such a slave to the original artwork that when Snyder altered the ending he had Gibbons draw new artwork for it. But I don't think the film really understands the themes and ideas represented by the graphic novel. It's hard to reconcile glorified badass violence (in slow motion!) with the graphic novel that I read.
What would have been really interesting is if Snyder had shot a few key scenes twice during the regular filming process. If budgetary requirements had always forbidden a faithful adaptation of the GN without enough violence to put in the trailer, what if he'd shot alternate scenes that featured a bare minimum of violence (as in, the Veidt confrontation with only dialogue)? Now that would have been a fascinating DVD.
As it is, I've only seen the Director's Cut, and since I felt it got the spirit of the thing wrong, if I see it again, I'll be trying the theatrical.