Just saw it on the weekend.
After suffering through some of the worst set of trailers that every disgraced a screen and made it look like the movie would be total garbage, I was suitably impressed.
A pretty good movie indeed and quite enjoyable. One thing I found especially interesting was that the flight scenes, especially during the test flight over the city at night (but excluding the hokey F22 scene) seemed - to me at least - to be incredibly realistic. I don't know what it was, but it all looked really good.
I thought the pacing overall was good, and they gave just the right amount of screen time to all the characters. Also a great mix of action, drama, and humor. Who knew a fire extinguisher-bot could be so funny?
Disclaimer: I have no knowledge of the source material.