I'm reserving my judgement for when it actually comes out, but I do have a couple thoughts.

They've taken it a very different direction than any of the animated series. In the animated series, we always had human view points, but they weren't the primary points of view. In choosing to make the film from our perspective, it really changes the dynamic of the entire thing.

Secondly, it seems they've chosen to go more with a scifi / horror tangent as opposed to simply giant transforming robots. At first glance, this was pretty weird, but I got to thinking about it. The elements to take Transformers into a more horror-oriented direction have always been there. Seriously, the Quintessons are quite sufficient to confirm a more horror oriented style of story. Check it out. http://en.wikipedia.org/wiki/Quintesson

Finally... good god they better not screw this up... There's the business of which story we're basing the whole thing off of. If it's truly the original Transformers, and they make Optimis Prime the character he was in the 80's, I'd almost like to see them screw it up. If they take a page from ANY of the anime series that were done in the 90's and 00's, it will blow. Now, mind you, I mean it will blow for me, and the reason being is that Optimis Prime circa 1985 is my one childhood larger than life hero. Everything the Japanese did with Transformers marred the image of Optimis Prime.

So yeah, I'm excited, and I will be there when it opens up. I'm also worried, but I'm going to reserve making a decision on it until I see it. No point in it being dead before it even gets here.