Gonna have to agree with Estrecca here. While not a terrible movie, I'm not going to say it was movie of the year. *Possible Spoilers ahead*
There were amazing scenes, such as Optimus being a fucking mack and taking on Megatron, Starscream, and Blackout by himself, the intro fight, and the Devastator scenes.
All in all, you'll note the best parts of the movie IMO were the ones focused on autobots/decepticons or heavy combat. The humor just felt forced and raw, apart from John Turturro, but he translates into most roles pretty seamlessly. I really don't care much for the humans. Didn't in the first movie, and I still don't. What nearly happened to Optimus is eerily reminiscent of the 1980's first animated Transformers movie. I hated that movie, as well as Rodimus, so I'm glad things didn't turn out the same.
So in conclusion, while an excellent movie, with great action and effects, it still didn't rock me like the first one did, despite the first movie having "Intro Syndrome", which is what I like to call the time it takes to introduce all the characters/setting in a movie franchise, e.g. Spider-man 1.