I'm going to be the unpopular one and say, I liked it. I caught a matinee showing of it on Tuesday, grabbed a soda, some popcorn, sat down and enjoyed myself for a few hours. I didn't feel like the dialogue was terrible, I thought the time it took to connect the audience to the characters was well spent enough, and I thought the rest of the movie was pretty epic.
Was it perfect? No, but at least it didn't have the 10,000 plot holes of the second transformers movie (or any other Bay movie), its certainly better than Emmerich's last film (10,000 B.C., which was utter shit). Of course I've also liked a couple of his films in the past, so that might also make a few of you discount this even further, Independence Day was a fun film, and I liked Day After Tomorrow. I'm obviously not one of those people who say "omg could this happen jesus we're all going to die just like the director said we would", I was able to take it as a film and enjoy it. Oliver Platt's mess of dialogue sounded like derivative up-chuck at times, nah for the most part, the little mini plot between john cusack and his son's character was flat and non-believable, but those didn't really take away from the entire movie too much for me.
Okay I'm done. Feel free to use this thread to shit all over the movie to your little heart's content now, as you were.