I am most pleased that they are intending to maintain continuity and not reboot!
Kid friendly... this could have different meanings. TFP started off more kid friendly, but then got darker as the series progressed. Kid friendly isn't necessarily a bad thing if done right... what I fear from it would be:
+ Campiness
+ Annoying human characters
+ Lack of character development
+ Megatron returning (seriously... leave him dead. Kids can cope with a new Decepticon leader (we did when we were kids growing up w/ G1! Galvatron*, Ratbat, Thunderwing, Bludgeon etc.)
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*While technically Galvatron is a reincarnation of Megatron, he is in some essence a "new" leader (much like how different incarnations of the Doctor are "new" Doctors).
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