Transformers, the first installment, brought me back to my childhood right away, especially since they got the original voice for Optimus Prime, my unconditional favorite. With impeccable visuals and special effects, seeing on the big screen was an incredible experience for me.
Even without watching it in theater, it's a lot of fun. It's a roller coaster thrill ride, with a punchy soundtrack of epic proportion and likable characters.
Now for the bad. The dialogs are a bit too easy, it kept to its roots in that aspect. Shia Laboeuf's character can be a bit unnerving with its over-dialoging, especially in the beginning, since you haven't really had time to get to know him. The story line is unimaginative and the characters one dimensional. Finally, lots of departure from the original stories and robot design can break the mood for hardcore fans. That last was most probably to please a new generation and have all cars of american design, which is really lame.
That being said, it's difficult not to enjoy this flick, if only on a superficial level. The men in the audience will certainly appreciate Megan Fox.