I had some concerns with it, after watching, but I think it is overall better than the first one. Not so much a fan of Devastator (what did they do to him?) and that girl who has a thing for Shia's character.
But, I think the action sequences were great and moving the focus from people talking to giant robots beating the crud out of each other is a major improvement. After all, that's what this series is about. Autobots beating the crud out of the Decepticons to prevent the evil domination.