First, here's my bias, so you can all dismiss this 'review': I'm a fan of the cartoon from the 80s.
So here are my thoughts on the movie, which I finally got around to seeing yesterday...
First, they didn't eliminate some of the things that should have fallen away in the first movie, namely the focus on the human side of the equation. I could care less about Sam Whitwikey and his parents. I care slightly more about Megan Fox, because I'm male and have a pulse, but her CHARACTER is completely useless.
The 'twins' should have been left on the cutting room floor, as they were useless, idiotic, and insultingly stereotyped. All the way down to the gold "tooth" and the 'We don't read much'.
Some of the bits were incredibly sweet. The new Soundwave -- that's a brilliant re-imagining of a great character. Similarly sweet was when the Constructicons came together into Devastator (original cartoon names, of course, don't know if they even HAD a name this time around). Optimus Prime, wading into a fight, early in the film.
Some of the movie hit sour notes. The continued focus -- as mentioned -- on the humans in the film. Why do we need them again? Especially with a cheesy romantic sub-plot best left to "Three's Company"... The proliferation of "cannon fodder" decepticons, most of whom didn't get names. Yes, the government has been fighting these guys for a while, so one would expect tactics to have improved, but still... that was QUITE an improvement.
And finally, the bizarre. A decepticon humping a character's leg? Really? At least Devestator's "scrotum" was mildly amusing -- those wrecking balls had to go somewhere during the transformation. Did we really see a transformer so 'old' he had a beard? Cause it looked that way... And my personal favorite -- African tribesmen, in Egypt, hunting a tiger. There's so many things wrong with that statement it's hilarious.
One final thought -- there was enough slow-motion of Megan Fox running across sand that I was wondering if I had stumbled into a Baywatch movie during one part of the film.
The point, of Transformers, to me, is in the title -- I'm here to see giant robots fight. It's not unlike a Godzilla film in that respect. I really don't care about the humans or WHY there's a giant, mutant lizard wandering around. The plot is really extraneous; if I want a thought-provoking movie, I know better by now than to go see something with the name "Michael Bay" on it. Or I'll go rent a classic. This is cheesy, action blockbuster at it's finest: An excuse to see giant robots beating on each other on the big screen.
Check your brain at the door, hit the matinee, and just enjoy the ride. (A tip: Pee before you sit down. It's a LONG ride.)