There are a few spoilers to the movie in here, if you haven't watched it yet. So, just be warned.
As I tried to put into words at the time, I have some difficulty talking about what I think of the Transformers movies. The third one wasn't any different, by the time it was over. Being a big Transformers fan, in general, it almost feels like a duty to say that I liked the film, just because it's about Transformers. And I did enjoy the film. It's just that I always feel like I'm not the right person to ask that question of, because I'm probably much more particular about it than a casual viewer would be. Or, realizing that I might be too particular, I may end up over-compensating and say that it was awesome despite some flaws that actually made it less than great. So I just don't know how reliable my views on the film would be for most people that would ask me.
So, I'll stick with some generalities here. The look of the Transformers was as awesome as ever. The over-the-top performances of some of the characters (as in, no person in real life acts that oddly) was the same as the first two movies. The mythology was expanded, and we managed to see more characters than ever on the screen. The big complaint most people have was the lack of plot, and I have to agree that it was something I missed. I didn't realize it while watching the film, but thinking about it later, there just wasn't much of a story. In fact, there was more interesting interaction and plot between the humans this time than the Transformers. It was almost like they bolted a war with giant robots around the lives of Sam and Carly. Prime, Ironhide, Megatron, Shockwave, etc... they just didn't feel like they were soldiers working together to take over or defend the planet. The just felt like individuals with bit parts in the story. It's still a great summer movie, something to watch while eating pop-corn and beating the summer heat in an air-conditioned theater. It just won't win any awards on the story.
So, majority of the movies I really liked. It's great to have something that's been a hobby of mine for such a long time get such main-stream adoption. It's very cool that the movies continue to rake in good money. I plan to re-watch the films a number of times through the coming years. Now, for the detailed view:
Overall, taking all three movies into account, there are just two things that I really didn't like about how it all turned out. The first is the mythology of the Transformers. You see, in the cartoon and comic book, the Transformers are these almost immortal creatures that came from way off in outer space. They crashed on Earth back when the dinosaurs were still around, but were still functional when a volcano eruption brought them back in modern times... now, those are some tough bots! And the inclusion of such a long period meant that you could have all kinds of cool mythology about what was happening on Cybertron while the big leaders of the major war were suddenly MIA, and energy was dwindling on the home planet. It also meant that the death of a character was a major thing, with how long their life spans could potentially be. Distance also seemed much larger. I don't recall if it was ever really mentioned in the 'toon or comic how far away Cybertron was, but the only way to get there was eventually through a space bridge. It wasn't like they were close enough to make a solo-trip in a few weeks through space. That kind of forced isolation made the story interesting. They couldn't just head back home if the going got tough, they were stuck here.
In the movies? In the last film, especially, it seemed that the war on Cybertron was pretty recent. That when the Allspark and Megatron were lost in space, it wasn't all that long ago. Sentinel crashing onto the moon happened in the 70's, when our space program was just getting started. So, Megatron and the Allspark wouldn't have fallen to earth much earlier than that. Megatron was found, in the first film, around 1897. My guess is that the writers would have placed planet-fall just a hundred or so years earlier, at the most. I mean, if Megatron and Sentinel made a deal to meet up later, they couldn't have been separated in planet-fall by very much time. So, that means that the whole war on Cybertron was still going critical from when Megatron was lost and when Optimus Prime showed himself for the first movie. Comparing a few hundred years in the movies to a few million years in the comic books just takes away some of the mystique of the race for me. The sense of age, of wisdom, and weariness that Prime would have after thousands of years of war just didn't translate to the same figure after a hundred years. It also seemed like the distances involved weren't that big either. I mean, the Decepticons managed to find Earth for the first time in the first movie, right? So, by the third movie, six or so years later, they had built up an army to hide on the back of the moon? That means that slower-than-light transport between our two planets can't take too long, so they must be fairly close together. The feeling of the Transformers really being marooned on a backwards (to them) planet was lost when I thought through that aspect. Another piece of the mystique removed from the original series.
Second, and this one is my biggest issue with the trilogy, was the portrayal of Megatron. I'm a kid that grew up with the cartoon Megatron having grandiose plans that, yes, were always foiled by Prime, but were major plans nonetheless. They had scope and scale that only a big-time villain could pull off. Beast Wars gave us a Megatron that was not only able to think big (going back in time to find the Ark? That's a massive plan!) but was cunning and deceitful even in the little plans for defeating the Maximals. Both were strong, capable leaders that you wouldn't want to cross without Prime on your side.
In the movie? Well, Megatron's last words to Prime were along the lines of "After all, what would you be without me?" Any my almost instant reaction was "Meh. You won't even be missed." I mean, sure, give some credit for the writers giving him a plan to warp Cybertron into Earth orbit, that's a pretty big plan. But how he acted? He was like one of his processor-damaged flunkies from the cartoon series. He didn't have a plan to back-stab Sentinel Prime until a fleshling took him to task? Seriously? He just seems to be as effective an evil genius as a paper bag. I really do rate how heroic Prime and the Autobots are against how devious their counterparts are. How difficult it really is to defeat them. In those respects, Prime didn't have much of a challenge.
Also, Megatron groveling to the Fallen in the second movie? Megatron answers to no one! He mouthed off to a frickin' planet eating planet in the cartoon movie! Good grief. They should have called him Neutertron instead.
So, those are my thoughts on the movie, a week later. I probably won't see it in the theater again, but will definitely have the Blu-ray for my collection soon after it's released. Letting go of my fanboy view of the Transformers, they were a lot of fun to watch. I just hope they get more plot in the next ones, whenever they get made.