Sentinel Prime was amazing, as was Laserbeak. But other than that, the movie just wasn't worth it. I mean, we got this giant buildup for Shockwave, and all he did was stand around a bit and fire his gun a bit.
I want to see Real Steel so badly. Everyone keeps saying, "IT'S ROCK 'EM SOCK 'EM ROBOTS BY MICHAEL BAY". But I think it goes deeper than that.
Also, fun fact. Skids and Mudflap (the annoying racist Autobot twins from Revenge of The Fallen) were originally going to be in the movie, but they were removed at the last minute. However, they were going to be killed by Sentinel Prime.