Sorry, Jon, that "joke" was idiotic.
OK, let me try. Watchmen would have been better if, instead of finding out that Adrian Veidt was planning on nuking the world, he was doing a surprise party/intervention for Dr. Manhattan -- the big surprise is that he's created a wife for Dr. Manhattan named Mrs. Manhattan, made from his lynx.
Some standard hi-jinks ensue, and Rorschach feels embittered because he's been left out of the coupling, plus he doesn't see why the Comedian had to die for this plan. So he sends his journal to the right-wing newspaper, as before, and the fat slob kid winds up at the wedding of the century (Dr./Mrs. Manhattan, Nite-Owl/Silk Spectre). Though a series of recursive metafictional flashbacks, we learn that the fat kid wants to grow up to be the next Dr. Manhattan and keeps locking himself in various nuclear test sites and such. Then we flash forward again to the wedding, where Dr. Manhattan has hung his blue penis by the door. A serendipitous wind blows the blue penis in the direction of the fat kid, who has no penis. It looks like it's going to land on the fat kid's groin, but Dr. Manhattan says "uh-uh-uh" and grabs it at the last minute and puts it on himself. Except he already had a penis, so now he's got two. "All Along The Watchtower" plays.
FIN.