Ok, here's my $0.02:
I thought the movie kicked ass. There was all sorts of clapping and cheering throughout the movie. Unbelieveable!
Was it a remake of G1? No. And I would have been pissed if it was. Just like every other incarnation of The Transformers, it was its own storyline. People really need to stop pining for a remake of G1. Go home, watch your G1 DVDs and relive the good old days. The old stuff was good, so was this.
Was it a simple plot? Sure it was. This movie is made for the young and old and I know that my 7 year old son is going to have a blast watching big fucking robots kicking the shit out of each other and still be able to follow the story.
Was there typical Hollywood crap crammed in it? Of course there was. Product placement, GM's sponsorship, etc... That's just business, it happens in all big action blockbusters. It was a still fun as hell movie. I'm looking forward to parts 2 and 3.