I went to the Trocadero with people from work and watched it!
I thought it was pretty good - if they ever remake "Repo Man" soon they should cast Shia LeBeouf in the lead role because I can imagine him in that for some reason (he played that kid in The X-Files episode "The Goldberg Variation"!) The movie was very funny at times - I loved when he was riding a woman's bike and the girl he liked saw him, and also when he ended up in his boxer shorts in front of one of the Decepticons. The comedy seemed to revolve a lot around awkwardness and embarassment, but the best bit was the Autobots trying to hide their presence in the garden ("your garden is infested with vermin!")
The movie was slow to start with, to the point that I was wondering where all the transformers were, but eventually it was worth watching - even though it ended a bit suddenly.