Synopsis (sans spoilers) review:
1) absolutely horrible character development.
2) there is a total lack of acting abilities, though I'm not sure how much of this was due to bad direction and/or editing.
3) plot? what plot? no really, everything was obvious.
However, I'm glad I saw it. Why?
1) Dude, GIANT F***ING ROBOTS!!! I mean, seriously, GIANT F***ING ROBOTS!!!
2) Also, there's a certain amount of sentmentality involved in seeing the Transformers; and it's clear the movie was targetting the mid 20's-early 30's market. And really, the original show wasn't of the best quality, but that wasn't the point.
3) Oh, it has a lot of amusing moments, I did laugh a lot.
So, yah, my advice: If you get sad about spending money on a movie that is lacking in plot, characterization, and/or acting, then don't spend money on this movie. If you absolutely adored the Transformers as a kid (and continue to do so), go see this movie! Most likely, you who are on my list are probably some combination of the two things; so I actually advise deciding how much money you want to throw at your sentimentality and live with it. :)
OK, fine, I do have one huge criticism though. They showed a bit that was supposed to be video from the Mars Rover before it went dead, and it seriously looked like some ITT Tech student's final project. That got a C. Like, roniliquidity's final project from the Art Institute was way better than what was on that clip... and she was just one lonely student trying to get something done before a deadline in a few weeks; you'd think that the movie would have *several* digital animators trying to get something done before a deadline in a few weeks!
The rest of the animation was not nearly so crude, which made that one clip all the more jarring, really.