Just got back from seeing it. I have some observations/suggestions.
1. Black people and children under 16 should have to sit in their own section behind glass. This should apply even if the children are with an adult. Thankfully all it took to silence these morons this time was a nasty look to each. Seriously, no one needs statements of the obvious ("Look! That's Megatron!!" or "Here comes big mama." etc.) floating around a movie theater through a 150 minute movie. Shut your fucking mouths!!!
2. $4.25 for a water? This isn't Woodstock '99. It's the damn movies at 9 am. This is absurd. I laugh sometimes seeing how dead the snack lines are before a movie. Law of diminishing returns seems to escape movie theaters as well as democrats.
3. Great movie. Arguably better than the first although it depends on who you ask. More action was a plus as there weren't really any dead moments throughout. I laughed a lot more this time too. La Beauf pulls off the hero bit quite well. I don't think Fox is a good actress but it didn't really take away anything. The plot was good even if it is similar to the first movie. I would call it "improved."
4. I wasn't happy when they killed Grindor after a whole 20 seconds of screen time. And if they're gonna start bringing characters back from the dead (Megatron) then what happened to Barricade? It did seem a little much to revive both Optimus and Sam's characters. How many people have to come back from the dead before it just gets silly?
5. I'm worried about the third movie. I know everyone said it would be hard to live up to the first but Bay definitely did it. I really hope they don't screw it up. At least having to wait until 2012 will stoke the fires of anticipation. Let's just hope it's worth it.
6. I did catch a goof in it. In all the scenes where Bumblebee is moving as the Camaro the driver is edited out. They did this in both movies. In one scene in the desert Sam is standing in front of the car facing away from it while Bumblebee pulls up and you can clearly see the driver. Since Arcee, Starscream, Blackout, and Barricade have all used holograms this wouldn't be an issue except Bumblebee hasn't used them.
7. The "Twins" are getting a lot of bad reception for promoting "racist stereotypes." While I see what people might have inferred it is obvious that was not Bay's intentions and I think most people find their characters hugely entertaining and funny. I did think it was funny when the two characters most plainly exhibiting "black" characteristics said they didn't know how to read.
