Who watches this stuff? Kids, I guess - maybe for them it would be entertaining - although it seems to me that if it was too long for a 50+ video guy (he started whining at about an hour and a half in) and it was too long for me - well okay, pretty much every movie in the world is too long for me, but still - it is quite likely too long for most kids as well. Especially the long getting to know the human characters and how they all fit together - or not - the blond chick and hacker dude never really did have much to do with anything - those focused on humans bits were way too long and boring. Who chooses to see Transformers to watch people?
The transformers themselves are cool - I liked the little silver bad guy ones the best - but how many times does one need to watch them transform back and forth, beat each other up, etc? Okay, so I'm perhaps not the best judge - but it was all more than enough for me. I liked the transformations; didn't like the fighting scenes - and no, not cuz I'm a wuss - but because most of the time I couldn't tell who was who and it was just a jumble of metallic bits flying around.
The story all centers on the cube - the bad transformers, led by Megatron wants to use it to take over the world, the good transformers are going to prevent them and by doing so protect all of humanity. The location of the cube is burned into the kid's - of course there has to be a kid - in this case the teenaged Sam - great-great-great grandfather's broken glasses which he's posted for sale on eBay - how else would the transformers find him? Sam's parents, and especially his mom, are idiots; his love interest was about the only character I liked in the whole thing - did I mention the little silver bad guy transformers were cool? On the screen for probably about 15 minutes of the whole movie max though, of course. Now if only I could have done without the other 2 hours.
Note: I am not fond of movies on the whole - so wouldn't necessarily advise basing your movie rental/purchase decisions on anything I say. And don't quote me on the number of greats in there - I have no idea how many there are supposed to be and can't quite bring myself to care either.