"I would make sure it would be state-of-the-art of whatever the new greatest thing in 3D, how you do it..."
sure hope this was a joke... knowing Bay, it wasn't. How about "I would make sure it has a solid script" or "I would make sure it's got a good balance of story and action" or "I would make sure I focus on the Transformers as much or more than the humans"
Transformers 3 was great, but not without the usual Bay missteps. I would rather they get someone else, though they'd probably hire someone who only has a couple movies under their belt, and nothing this big, and it'll be terrible. Really, unless they pull stuff from the '86 movie and the 3rd season of G1 (i.e. Unicron, Quintessons, other planets, etc.) I don't know where they could take the series anyway, especially with Shia gone. The core cast would be gone, probably replaced with wooden soldier types and wackier civilian types, and an obligitory, unnecessary spot for John Tuturro.
I'd still see Transformers 4, but don't have high hopes for it. Please prove me wrong Paramount/Dreamworks/Hasbro