TALES OF THE BLACK FREIGHTER WILL BE RELEASED ABOUT THE SAME TIME AS THE WATCHMEN MOVIE..... til then I can't tell you too much. My title on the project is Production Designer, which is a bit different than my usual title. But if you like the way the movie looks (you better!) it's probably my fault. The directors, Danny DelPurgatorio and Mike Smith, are responsible for the story, edit, animation, and much of the background design but I'm the guy who (with a whole lotta help) put it all together. BF will be released on DVD and will also be incorporated in the fancier versions of the WATCHMEN DVD and will also be woven into the director's cut of the film.
There is a cool discussion of Tales of the Black Freighter here.