Alan Moore's fiction usually has morally ambiguous elements and V is no exception. I don't think he ever wants you to be quite comfortable with his heroes or even certain who the heroes are.

In this story, the state is certainly an evil one, and with corrupt men running it. Also, V has a particular (though very shadowed and ambiguous) background that may give him some special license for payback.

On the other hand, V is not so terribly worried about innocent bystanders. And there is no mercy in his soul towards anyone involved with the government - even ones you get to think might not be so bad.

This post is probably too misleading to spoil anything, on second thought. I read it a long time ago - so it might be inaccurate, and I haven't see the movie yet.

And on another note, Fifth Column - I read that one back in the 60s. I don't recall the enemy as a theocracy. I recall that the enemy was the "pan-asians", and that the fifth column itself, masqueraded as a religion to hide their true activities.

After a few of us have seen this film, I will try to talk you all into buying the Watchmen series. Completely blew my mind, when I read it.