I also agree that overall this is a great figure. Much like Shockwave, Ultra Magnus is basically a Voyager that comes with its own upgrade armour kit, but UM's armour feels more substantial than Shockwave's so it feels like better value for money than Shockers. Shockwave's super robot mode is basically the same 'bot with shoulder pads and shoes. Ultra Magnus on the other hand is a more properly armoured/upgraded super robot mode. And I think that it's done a lot better than the Power of the Primes Evolution Leader Class toys.

Some downsides include:
* Truck cab doesn't conceal the forearms/hands... at all. But still, it's a tighter looking truck cab than POTP Optimus Prime.
* The try-hard battle damage on the robot mode doesn't look great to me. I'll be removing mine. Although on truck mode it's isolated to the front grill section and looks okay there.
* Look, ma! Painted hubcaps! (somewhat sad that something that was standard practice a few years ago is now exceptional)
* Objectively speaking this is more of a Partsformer than say Ti Series, MP or CW Ultra Magnus. So from an engineering POV the transformation is more of a cheat and isn't nearly as clever as the Ultra Magni who transform both the cab and trailer as a single unit (which is what I really appreciate about those toys). Having said that, I personally love that they've made him a Partsformer because it's a great callback to G1 Ultra Magnus for obvious reasons -- but this is my G1 fanboy bias kicking in, so it's a subjective criterion. But this is what this toy is unapologetically targeting -- the fans. If you're the kind of person who doesn't have this bias and would prefer a better engineered figure that's not a Partsformer, then you have Ti Series, CW or MP Ultra Magni to satiate that desire. But for those of us who want more contemporary Ultra Magnus toy that's also a small white cab-robot inside like the Diaclone based G1 toy, then this toy is a Hoist dream come true.