At first, when the first designs came out....yeah, I jumped on the "OMG B4y 15 8uTtr4p1nG My cH1ldHuD!!!!111!!1" bandwagon.....but the more I've seen & the more I've been exposed to what they're doing.....it's essentially G1 with a fresh coat of paint. Sure there are a few things I still don't like, like chicken-legged Monkeyscream & shrapnel-laced spark vampire Megatron, but aside from a few differences in background story & design, these are going to be the same characters as in G1(where applicable).....just in different settings.
I for one now am looking forward to the movie, & already have several of the toys (roughly 10 now), & plan to be one of the first in line on the night of July 3rd, & plan to take my family at least twice, & encourage everybody around me to go see it as well.
I honestly think the biggest problem boycotters are going to have is for every person that decides their childhood is getting raped & refuse to go see the movie, there is another person on the other side of the spectrum that is planning on seeing the movie at least enough to count for themselves & the person that's boycotting the movie. So there's really no point. Just go & enjoy the movie. & if it turns out you still think it's horrible, send a letter to Dreamworks asking for your money back. If you are so terribly against this movie that you want a better one, tell them exactly what you didn't like, & what you think they should do to fix it in the sequel. Sending them a letter or trying to find a phone number to talk to somebody important will register a lot better than refusing to give them the pleasure of your ticket money. IIRC, studios like that have some kind of formula as to how particular actions taken to contact them represent certain numbers of peoples' opinions that are like-minded. Bitching on the internet in any form ranks rather low on thier list, because everybody does it too frequently, but trying to send a letter or phoning apparently ranks pretty high on their list. So if you're truely unhappy with Dreamworks' s efforts.....that's the way to go.
Have a nice day.