WI: Christopher Nolan does Watchmen in 2005?

I usually don't have pop culture WI ideas - but the concept of Heath Ledger as Rorschach popped into my head so-

What if Watchmen as a project returns to Warner Bros a few years earlier than OTL and Christopher Nolan picks it up as a project in 2002 instead of Batman Begins? Ideas for casting or how successful it could be? (I'd say as an ironic reversal that Zach Snyder then does Batman - only that also basically ended up happening IOTL).
 
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