Way discusses his involvement with the forthcoming film Watchmen and why they covered Bob Dylan for the soundtrack:
For those that aren't aware, Bob Dylan plays a huge part in Alan Moore's Watchmen. It's not just Dylan; there are all kinds of quotes of lyrics, from Nat King Cole to Jimi Hendrix. There is all kinds of music in there, but Dylan is one of the most important artists that Alan Moore quotes in that series. So Zack wanted to bookend the film by having it open with a Dylan song and end with a Dylan song, and he wanted those feelings to be very different. So he wanted a modern band to cover a second Dylan song that he could use at the end of the film.
Check out the interview here.