Very entertaining movie, and one that I'm sure all Home Theater owners will want to own as their go to demo movie (even more than the first movie was).
LOTS of explosions (typical Michael Bay), huge amounts of action, great and complex fight scenes, realistic (for robot fighting) battle scenes, and decent story. Language and humor a bit more crude than the first movie.
Definitely worth seeing on the big screen, just make sure you're seeing it where they have a fantastic sound system or you're missing out!