I just got home from it.
My thoughts...
The plot was a little weird, especially at the end, but, as my friend pointed out, its a movie about alien robots attacking earth, its gunna be a little out there.
It was a little long. I don't think they needed all 2 and half hours. But that being said, it never really lost my attention. I've been to movies shorter and longer where in the middle I've started to fall asleep because I've lost interest (example either the 2nd or the 3rd POC dont remember now).
This one totally had more humor in it than the first and more sex appeal.
Megan Fox was all over the place in these little outfits, but she's got the body for it. Shia was hot in it too.

The action scenes were awesome as well. The special effects were outstanding, IMO.
All in all, I liked it. I still think the first one was better, but I don't regret going to this at all.