Wow, my dad and I were just talking about this yesterday, and we also found him to be the hard one.
coxafloppin said:
That's pretty much my best guess, he's doing something illegal and otherwise very questionable, but with the intention of preventing nuclear war.
As for other alignments:
Dr. Manhattan-True Neutral.
Nite Owl II-Lawful Good.
Silk Specter II-Neutral Good.
The Comedian-Chaotic Evil. Edit: As Root pointed out, he's working within the law. I considered him chaotic since he's mostly being a mercenary, the lawful part is just his permission to do so.
Rorschach (I'm gonna get flamed for this)-Lawful Evil. Now before someone mentions that he's a vigilante and a rather psycho one at that, he's also a moral absolutist, hence the lawful part. The Evil part is where the problem occurs (i.e whether you agree with him or not), and what I'll get flamed for.