One of the best. It even topped it's predecesor. Another example of the sequel being better than the original.
However, there was one small problem and that was, that the action was too much "rapid fire". At times, I couldn't see all what was happening and that, to me, was not a good thing. Looking at a scene and seeing two or three things going on at the same time and trying to catch all of it was a problem during several parts of the movie. Other than that, Dreamwork and Michael Bay outdid themselves.