Neither.
My only Batman background comes from the Batman cartoons I watched when I was young, and what little stuff I picked up from the old movies.
And I didn't even know Watchmen existed until I heard about the movie, so I'm pretty blank on the backstory.
I thought both movies were extremely good, but at the same time also very different, and I can't say which one I like the most. Both were very awesome in their own ways.