I have watched transformers from the start.
This movie is going to be like Jurassic Park in many ways.
It will do for machinery in movies what Jurassic park did for animals/living beings. After this movie a lot more people will have confidence that they can do more with machines. Not to mention the fact that you CAN do a movie with more than one huge character wrecking havok at one time.
Secondly, I'm sure there are good reasons for making megatron the way he is. I'd rather have a great movie with Megatron looking like that than have a bad movie with megatron being his G1 self.
Thirdly, I'm VERY grateful Michael Bay is in charge of this. Because he is not a die hard fanboy of the franchise, he has the balls to pull off some crazy entertaining stuff like we are seeing in the trailer as opposed to pleasing all the fanboys and making everyone else go ???!
This summer I wanted something I had never seen before. Spidey 3, POTC 3, SHREK 3 etc etc were the same old things. Transformers is what I'm most excited about even with megatron being an alien spaceship.
Your second point is kind of... stupdi. A G1 resembling Megatron does not mean the movie would have been bad. Neither does a totally redesigned Megatron make the movie good. Those aspects are completely independent on one another.
Anyways, glad you liked it. How'd you get to watch it?