$120 million? I somehow missed this sidebar to the Publishers Weekly story about graphic novel sales in the direct market (see entry below). Citing ICv2, PW reports that graphic novel sales could be more than $120 million by the end of the year (taking into account holiday sales):

"The site estimated the total graphic novel market at $75 million in 2001 ($43 million in comics stores; $32 million in bookstores), and at $100 million (evenly split between the two markets) in 2002. Its mid-2003 estimate for this year was $120 million ($65 million in bookstores; $55 million in comics stores—the first time bookstores have pulled ahead)."

Yes, take special note that book stores have begun to beat out speciality shops in graphic novel sales.