This is interesting. Here's a short film produced independently about superheroes in a sort of Watchmen pastiche. Actually, it owes a heck of a lot to Watchmen. Nonetheless, it's pretty darn well done from a design and acting standpoint, and demonstrates that even indie fanfilms now look and feel better than most superhero films up until Spider-Man.
It's about 20 minutes long. Check out "The League" (again, not about me).