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I just saw Transformers. It was pretty good, with slick visuals, a coherent plot, and funny actors. Shia LeBouf was really a good lead actor. Also, the action never let up, and the sop was totally negligible.

And Megatron kicks Autobot Arse.

Saw it last night. I didn't think there was nearly enough action.
I'm just going to copy and paste what I posted at another forum:

I saw it last night. I was actually quite disappointed. Far too much human storyline, and far too little Transformers stuff. The Decepticons never even held a conversation, and the Autobots didn't have as much to say as I thought they would either. Also, it was stocked to the brim with cheese. Although at some points you can tell that the cheese is intentional ala Snakes on a Plane (and these parts were quite cool), sometimes it isn't, and it's cringe inducing. Also plenty of plotholes. Someone here mentioned good acting. I wouldn't really say that.
Maybe I went into it with too higher expectations...
The action was pretty good, but camera angles could have been further away sometimes (it was quite hard to see who was doing what, since the detail on the Transformers was so good, not blocky like they used to be).

Oh and the film caught on fire as the movie was playing, around twenty minutes in, so we missed a few minutes of it due to that. It was pretty sweet/amazing seeing it melt away though. Definitely a highlight.