Yes, there will be spoilers. I don't give a damn.

They killed Jazz, Soundwave (or Frenzy?) was a freaky slinky robot throwing knives, Bumblebee was:

a. Changed from a classic VW beetle to a 1977 Camaro.

b. Turned from a classic 1977 Camaro to a new crappy Camaro.

The movie was plagged with a classic Michael-Bay-only type of music score with weird rotating pans around characters who were not even in the center of the action (i.e. army men who weren't even denting the robots, but somehow were important to the battle scene.)

I can't go on. The flick has enough panache to attract people with Bruckheimer-level visual effects, fast action and a somewhat open-ended plot (cause a 2nd one will probably come 10 years from now), but I can't condone it man! Not much of what I remember liking the transformers for is actually in the movie besides the names and the archetypes the characters are supposed to play.

Anyways that's my two cents. It wasn't a good movie for me, because it sounded like transformers, but it really didn't look or feel at all like it.