I've watched up to Episode IV so far and I must say that I was pretty impressed. Wow... Blurr's Infinity War moment was pretty harsh! But I agree with what griff's said -- most of the good stuff seems to be happening in Bumblebee's flashbacks and the current day Earth stuff is pretty lame thus far. So yeah, the episodes are pretty hot and cold - only that it switches from being hot and cold within the same ep (i.e. flashback vs current time).