Went to see this, all I can say is wow. Unlike many movies that are remakes or spin offs of cartoons/books, etc, this one avoids the campy lines, the throwbacks and the stupidity that surrounds them. There is of course a few notable lines, "Roll out" "Starscream, you have failed me for the last time", but nothing over the top.
The movie doesn't have a lot of slow spots, and is a real good action flick even if you think a transformer is what plugs into the wall and gives you power. The robots are very smooth in movement, the CGI is wonderful. My one gripe is is appears to be one big Chevy commercial at times. It is really the first time the new camaro has gotten a lot of attention. While looking nice, it did get old seeing all the cars Chevy emblems. I may be biased being a ford/dodge type of guy though. And, they really shouldn't have made a decepticon a mustang.
The acting by the humans was pretty good, considering there wasnt a lot of star power present. Mostly new actors, or child actors trying to distance themselves from their image. The voice actors for the robots are pretty much ones whose voice you will recognize, mostly from cartoons in the 80's. And, a BIG plus for fans of the original transformers cartoon series, Peter Cullen, the voice of the original Optimus Prime, is also his voice in the movie.
All in all, a wonderful movie, and one I would strongly suggest seeing in the theater.