I enjoyed Transformers. I think it's the best Michael Bay film in a long time. For better or worse, Michael Bay has stamped his signature on the film, the slow-mo, the herky jerky editing, 360-degree panning cam (which I couldn't help but smile at, since it was parodied by HOT FUZZ as well, which I saw last week) the hyper-kinetic cinematography. Yeap, riddled with Bay-isms, film looks like a music video and a commercial, and ultimately, Transformers is really a Michael Bay film that happens to have... Transformers in it.
Many people I know, many blogs I've read have raved about the film. I'm not surprised, it's an entertaining popcorn film, a joyride for the masses. It's funny, it's action-packed, it's good eye-candy (besides the robots, MEGAN FOX provided the rest of the visual candy)