Considering the junk Hasbro had been spitting out for Megatron in the previous two movies, this one's transformation and even the alt-mode make up for the flaws of this figure. Actually, some of the "flaws" are only there because of what Michael Bay wanted his Megatron to look like on-screen - the rubbery cloak that does nothing, and the scar face that didn't even make sense in the movie and just detracts from the look of the toy.

I like the legs on this figure, as it feels more robotic and solid, and less (Ridley Scott) "Alien", as most limbs on most other Decepticons seem to have (including the arms on this figure). The truck mode is good, but could have looked a little less "Mad Max" or post-apocalyptic. Then again, a normal tanker truck probably woulda looked boring.
I think people would have hoped or expected a Leader class version of TF3 Megaton, so it is surprising that we don't seem to be getting one. It kinda makes you question the point of that size class being called "Leader" if it doesn't include (or even only include) actual Leaders.
Worth buying, unless they end up releasing a bigger and better one.