
I hated it. Intensely. It wasn't the choice of songs that was real problem; it was the timing and presentation. Every single song leapt in after a period of silence and yanked your attention away from the screen to whatever song they picked. If they had used a continuous and more subtle soundtrack before playing songs with lyrics, it would have worked better, but the transitions were incredibly awkward. I actually burst into laughter as soon as the music played during the wholly unnecessary softcore porn scene. It was so ludicrous.
I felt the same way while watching the movie in the theater. Normally one of the things I love about movie soundtracks is the introduction to songs with which I was not previously familiar, but every song being so iconic, and certainly well known to me was jarring. All Along the Watchtower made me giggle, but that was mostly because of the cylon reference working its way in, I couldn't decide if the Watchmen were cylons or if I was.
That being said, I had not read the graphic novel going into it, I didn't really have any preconceived notions whatsoever, aside from the movie being based on a graphic novel, which isn't really much of anything. I did enjoy the movie on its own merits and didn't have any trouble following it. I read the graphic novel after seeing it and noticed at the end of both excerpts from Hollis Mason's book and at the end of sections of the main story, lines from songs were referenced... which matched those chosen in the movie soundtrack, down to All Along the Watchtower...
In the future, you're going to get computers as prizes in breakfast cereals. You'll throw them out because your house will be littered with them.