From one of the people who did packaging artwork for the early Transformers toys in the 1980s, (Mark Watts) comes some newly created Transformers artwork done in the same style (hand painted and airbrushed).
The link here has mirrored the design process, from sketches to the different stages of the painting itself.

Being true to the actual toy designs, the "action" poses can look a little weird... almost like Dreamwave's distorted body proportions.