I'm the last person in the world I expected to hear say this, but I was pleasantly surprised by TRANFORMERS 2. It helped seeing it in the theater where they mixed it, the film sounded (and looked) fantastic.
As far as the plot goes, I think the film was about two breasts bouncing in slow motion, and stuff exploding. At least that's what I remember. Not that I'm complaining, I like both those things. And the explosions.
I was actually engaged for most of the first half of the movie. But there were a lot of plot weaknesses, some incomprehensible leaps in logic, and a very slow third act that seemed to drag. (I sincerely feel that mainstream movies should have a two-hour time limit strictly enforced.) There was a lot that could have been cut out (or at least down). The humor in particular did not suit the film very well. (Why were the parents even in the movie? Contractual obligation?)
But it's hard to argue with $835M gross, clearly the film has an audience, and it's the spectacle that succeeds here. Props to the sound crew on the film, they did great work.