I'm slow on the up-take and just seen the new trailer and though I think it won't have much in common with the original animated material I have a feeling it will by quite a good blockbuster full of action.
Personally, one of the things I liked the look of in the new film (even though I'm not Michael Bay's biggest fan) is it looks fairly dark in tone. Whether it will be remains to be seen, but if its quite a darkish film I think that, for me, will determine how much I enjoy it.
I thought what you saw of the Transformers themselves looked quite menacing. Some one said they came across a bit like the Tripods from the new version of War Of The Worlds (strange film that. Some stuff was good, some stuff was terrible - bit like Star Wars really!).
If that trailer is anything to go by, it won't be the most cuddly of films.
After seeing the trailer, I'm putting myself in the high-hopes category because I don't believe nostalgia is needed for a live action remake of a film like Transformers.