Although I understand why there's discussion of the new Michael Bay theme park ride on the Transformers animated movie page, I'm annoyed that nobody's stepped up to actually review the earlier flick. Save the Bay boos and bravos for the Transformers 2007 page!
I just rewatched it last night in a fit of nostalgia, and came away both surprised at what had held up after twenty-odd years and also somewhat disappointed at what hadn't. I had also forgotten that the movie is a pretty Star Wars-ian streamlining of the Transformers mythos, killing off or otherwise jettisoning a whole bunch of the classic Generation 1 characters (notably Optimus Prime, who gets a couple of fantastic scenes at the beginning) in favor of a ragtag band of new heroes who you may either love or hate, depending on your enjoyment of Judd Nelson's voice acting skills.
Thoughts? I'll elaborate on mine later, but I did enjoy it.