Far, far superior to the film, which changes the premise in an entirely bad way. Gibson doesn't join a fraternity of assassins, but a society of super-villains that run the world after killing off every superhero in 1986 then convincing the world that they never existed in the first place. Genius. The story then becomes a complex mafia-like story where the heads of the villain families go to war for control and their own personal agendas. The story is brilliantly conceptualized and told, and the artwork is amazing.
While the story is brilliant, at times I found it hard to swallow. Not just in terms of belief, I have no problem accepting the usual comic book premise that there is a multiverse or anything like that, but in terms of the development of gibson himself. He basically turns from a coward into a mass-murdering sociopath with no qualms about rape, execution or child abuse at all. Call me traditional, old-fashioned whatever, but that level of violence and carelessness with the lives of human beings unsettles me. Maybe that's why I love Superman so much. That said, I had no problem accepting or even liking a lot of the characters from Watchmen, who displayed psychological imbalance and who were far from perfect. Maybe it's just the way they were developed that made the difference for me.
A great idea that was once again ruined by stupid hollywood execs who think they know better than the original artists.