The franchise is badly in need of a 'Dark Knight' overhaul...

Rating: 4/10 (27 December 2011)

Turning the franchise over to a TV comedy / action crew had the predictable result - a bad movie that fails even the most basic 'Lethal Weapon' test. Tom isn't Mel or Jackie and shoehorning the otherwise wonderful Simon Pegg into the mix spoiled the whole lot. And the 'Team' never had a ghost of a chance when the actors were all so obviously conflicted between their action and comedic timing. Overall, the Transformer treatment left the whole affair feeling like a wobbly and robotic mess.
The direction also lacked subtlety, grace and the continuity necessary to sustain pace which is admittedly hard to do when you are constantly dropping out of warp drive to do one-off skits. The editing wasn't the best either, but it's hard to say just what they were given to work with so I won't be too harsh on them.
I'd say the franchise due for some serious reinvention and should dump the comedy and head deep into a darker and edgier landscape capable of better supporting the theme and premise. Maybe get someone with an edge like Cormac McCarthy help with the next screenplay.
But if they're unwilling to take a serious turn with the franchise, then they should give Jon Favreau a shot at the next one; at least he understands what he's being tasked to deliver and does so with the eye of a movie goer.