I just watched it for the second time last tuesday and still I love it just the same if not more. I took my daughter to see it with me(after much deliberation because of her age) but she ended up loving it as well. Note to Mr. Bay-My daughter loved every scene that a Transformer was on screen and was board in the long stretches when they were not on screen.
Things I picked up on in my second veiwing were:
Starscream taking out both Ironhide and Ratchet while Megatron was chasing Sam.
Why in the Matrix would they make Jazz say"Whats cracklin bitches"?
I missed the Autobot symbol on the cloud first time around when Bumblebee signals the other Autobots with the "Bot Signal"(a play on bat signal, tee hee)
Can't wait for the DVD, but the novel will have to keep me happy until then.