Animated is ok. No to BW (not the same character, and I'm not a fan of the series).
I know Megs mostly likely would not be given that kind of development in TF4, especially if directed by Bay and especially if the movie follows a similar style to the previous live-action movies... but I would rather have Megatron return and continue to be a part of the TFs mythos for as long as it exists, than not have him around. I may very well have to pass on TF4, but I don't want to.
Thank you for your input Grasshopper; I do appreciate it from a fellow Transfan, and I hope I'm not pissing anyone off with my view points, as that's not my intent, I only want to stay honest because I do feel kinda strongly about the subject.