First time poster here, and joining the Perb/Pooning community. It seems like a lively and friendly place.
I know this is somewhat of an old topic, but I just like to throw my 2 cents in there. I watched the movie on the first day, and even though I wasn't disappointed, I wasn't very happy with the movie.
First of all, the action was generally good, and the actors (Shia Labouef) did a good job, and Megan Fox, well, she was a fox. What I didn't like was Michael Bay. His direction of the movie made it rather shallow with no character development. I always thought he's overrated, and he's just one lucky guy to work in big budgets (Pearl Harbour, Armageddon), or direct a guaranteed success movie like the Transformers. Even though his old movies (The Rock and Bad Boys) were pretty decent, his movies are generic and shallow,they don't make you think, even though they do make money.
His movies seem to follow a set formula, and Transformers was no different. I think he has a checklist for all movies: Lots of explosion because of a big budget; loud talking and arguing; illogical action scenes that make for lots of explosions; Jerky and blurry shots; glorifying America; pop culture references; and somehow sneak in a cheesy love story even though it is not really needed. Once all those have been fulfilled, you got yourself a Michael Bay movie. (even though I do give him props for making the lead actresses look very good)
What really irked me about the Transformer movie is that there is not enough screen time and development for the transformers, the supposed stars of the show. We didn't really get to know all the transformers before they are gone (such as Starscream, Jazz, Bonecrusher, etc.). Also, there are quite a few plot holes and unnecessary characters. I think Bryan Singer would've done a much better job. In X-men 2, he juggled the characters well and managed to provide deep character developments. He would've probably know how to manage the Transformers screen time to make the movie better.
Sorry for the semi-rant as my first post. I just felt that these classic characters needed more involvement and better stories in their first big budget live action film. I know a lot of people like Michael Bay, and this is my opinion. Well, enough with the movie reviews, I should get back to the pooning reviews and maybe write a few as well.