I would've liked to see Sludge as well as I never got the G1 version. Slag looks really awesome. I like how in robot mode the chest and shoulders seem to "reference" the triceratops head and it makes him look really tough. By comparison, Grimlock in robot mode looks like a 90 lb. wimp.
I was worried from the first preview that the transformations would always have that Voltronish scrolling bars in the background but the clip that Adam posted has them doing normal transformations.
the Blackarachnia toy looks great, certainly better than all the Beast Wars and Beast Machines versions.
the rendition of the theme song is 1000 times better than the one done for the movie soundtrack.