Exactly what I expected. Truly awesome! Big scale! It's ridiculous that the people who shell out money for Transformers 2 and 3 aren't making this a big box-office hit! Spoilers after the jump...
Great movie sure. I loved how they really made it feel like a global catastrophe and everyone was in danger. Plenty of breath-holding moments because of that.
My one complaint was that the characters weren't fleshed out enough. We knew why they were fighting (the main ones), but there wasn't much more than who they were aside from action-movie archtypes. OK, ok, not that big a deal, but it might have helped. We didn't even get to really meet the Russian and Chinese pilots.
Ron Pearlman was awesome.