I just saw it and really loved it. I only had two problems with it, small problems really. One, there was a lot of subtle patriotisms in there that I did not care to have mingled in my awesome Transformers experience. And two, the focus (in my opinion) should have been Transformers first, people somewhere else later and not first, but the movie did focus too much on the humans for my liking. I watched the movie for the Transformers, not for sappy, cliched human interaction. But other than that, I loved the movie. Just would have liked the Transformer-Human balance to be a bit more tilted towards Transformers instead of the latter.
***Oh yeah! And those of you who have seen it, did you get the uber-mysterious untitled trailer before it, the film by J.J. Abrams, coming out 01-18-2008? What do you guys think about that? Looked mighty intriguing to me!***