i think it looks damn cool, the only thing i'm not sure about are the flames. i much prefer this complex design to the original 'boxy' look. but, i'll have to see the actual 'transforming process' before i really know if its gonna kick ass or not.
From what I have heard on my Transformer Forum I reg, this new movie is a retelling of Generation 1, some of the changes are so that the CGI will work (like a peterbilt semi that Optimus Prime is, has to be morphed differently.
Atleast he isn't a pickup...oh wait HASBRO ALREADY HAS DONE THAT