Saw it this afternoon. When I wasn't completely bored by the nearly nonexistent plot or having Megan Fox's sadly clothed t&a being shoved in my face, I was completely confused by the action scenes where by some miraculous feat the Autobots and Decepticons look EXACTLY the same and thus every fight scenes is just a sequence of a giant tower of CGI'd-out metal blowing shit up randomly. Would have been better if it was an actual porno (a scene where Megatron and Starscream DP the shit out of Megan Fox while she takes Sam Twatshitty or whatever his name's load and Bumblebee's equivalent diesel fuel injection, and Petra and the Giza Pyramids were getting blown up randomly would have fucking sweet).
That being said, from a standpoint of analyzing Michael Bay's philosophy on film, it might be his masterwork. It's absurdly loud, the visuals are relentless, the sophomoric teenage boy jokes are aplenty and the chicks are fucking hot (dude, come on, a Decepticon posing as a nonstop horny freshman chick with a giant telescoping tongue! You can't make this shit up) It is one the purest "action films" -- it's all action, I just feel like he forgot the "film" part of it all. Roger Ebert, who had an amazing review of this film, wrote on his blog: "The day will come when "Transformers: Revenge of the Fallen" will be studied in film classes and shown at cult film festivals. It will be seen, in retrospect, as marking the end of an era. Of course there will be many more CGI-based action epics, but never again one this bloated, excessive, incomprehensible, long (149 minutes) or expensive (more than $200 million)."
I can't help but to agree. This movie, 10 or 20 years down the line, might prove itself to be an important piece of American film history. Not because it's a classic, or that it's even any good, but because Revenge of the Fallen is the embodiment of everything the Hollywood summer blockbuster tries to be. To me, there's very little difference between this and a porno --- but a porno has the advantage because I just don't get off to hunks of random scrap metal blowing themselves and other shit up and humping Megan Fox's leg.