I've played with this Megatron enough to comment:

1. The tank mode is awesome as long as the mega cannon is attached (this tank doesn't look good with it's little "Sherman" cannon). Another point from a playability perspective is that all four wheels make contact with the ground and actually move due to sufficient clearance (hurdles that the tank toys usually fail to overcome more so than the cars).

2. The jet mode is also impressive despite it's undercarriage kibble and is the reason I bought this toy because it's the first time I've seen Megatron turn into a jet instead of a space ship ( it's as if he's throwing down the gauntlet to a certain overambitious Seeker that wishes to depose him).

3.The robot mode is of course the best. Especially with the wings folded out and the fins folded out on his ankles to give more stability and more poseability.