Now, I have nothing other than prior experience and intuition to guide me in this prediction, but I still think it's a very strong one...
I'm guessing that we're going to get our first real review/comments on the film somewhere around December 15. What makes me say this? Well, there's a little event going on down in Austin, Texas December 13-14 called "Butt-Numb-A-Thon."
In case you're not familiar, the annual event put on by Harry Knowles and Aint It Cool News is a 24 hour film marathon that frequently features high-profile directors bringing in their latest big projects (especially ones of the genre variety). In the past, they've been the first audiences to witness films such as Return of the King, 300, and other films. I'd bet piles of good money that Zack Snyder is planning on bringing Watchmen to show to the rabid geek audience of this years BNAT. Snyder brought 300 there early, and Watchmen stands to be the biggest possible exclusive the festival could offer. Anyone who's read up on, been to, or followed the history of BNAT can attest to how a move like this is too perfect and fitting to imagine not happening.
So... I'd wager that all this squid nonsense, as well as any other content related questions will be well on their way to being answered by mid December.