The main reason I saw this movie was to see Johnny Depp as Dillinger so, naturally, I was not disappointed. He effectively conveyed the reputed charisma and grace of Dillinger and provided a strong rooting interest, particularly when played against the typically stiff Christian Bale.
Spoilers follow. Historically the problems begin with the opening scene and the killing of Pretty Boy Floyd which, regardless of the debate of who actually shot Floyd, happened months after the death of Dillinger even though Dillinger/Depp references the killing. The film also has Baby Face Nelson being killed during the escape from Little Bohemia. This did not happen and, much like Floyd, Nelson died months after Dillinger.
As one would expect from summer fare, this was a visually impressive and action-packed film that is, as with the first movie, a dual love story of a boy and a girl and a boy and his car and the outcomes of these stories is never in doubt. Thankfully, the shmaltz and groan inducing moments inherent in this is thankfully tempered by the engaging presence of Shia LeBeouf. Relatively speaking, characterization of the Autobots and the soldiers from the first film was sacrificed to introduce new characters and a more complex, if nebulous, plot that, from a certain perspective, undermines what was established in the first film.