Also, at least two of the WM characters are based on Batman. (Nite Owl I and II. Three or four if you count Rorschach (sp?) and/or Ozymyndias as partly based on Batman.)
Actually, Nite Owl is probably more Blue Beetle (with the legacy and all) considering that Moore's first story involved the Charleton characters. And Rorschach is the Question.
For years I thought that's who this was until I was corrected years ago.
All Watchmen characters are "blends" of various "archetypes" in superhero comics. Nite Owl(s) is 1st based on Blue Beetle, but also on Batman, Moon Knight and possibly some other gents.
Rorschach was 1st meant to be The Question, but the final version is closer to another Ditko character, Mr A (as in the Objectivist saying 'A is A and not not-A'), with bits of Charles Bronson's hero in "Death Wish".
"Batman is only meaningful as an answer to a world which in its basics is chaotic and in the hands of the wrong people, where no justice can be found. I think it's very suitable to our perception of the world's condition today... Batman embodies the will to resist evil" -Frank Miller
"Conan, what's the meaning of life?" "To crush your enemies, see them driven before you, and hear the lamentations of their women!" -Conan the Barbarian
"Well, yeah." -Jason E. Perkins
"If I had a dime for every time Pariah was right about something I'd owe twenty cents." -Ultimate Jaburg53
"Fair enough. I defer to your expertise." -Prometheus
until I was corrected years ago. 
