Can anyone else tell if the actual character models will be cell shaded? It seems that way to me. All the non preproduction art pictures seem a little simple to me, not in the character design, but little things that are missing such as dynamic shading and shadows. If these images are not the final product, then I look forward to seeing what they look like with more complicated textures to them.
As a whole, I like them, but I wish they had better textures to them, and some actual raytracing (real world lighting effects).
Soundwave, well, I miss the bulk of the character, but he was always meant to be the creepy special ops guy, so now he looks like it more so than ever.
Starscream... has been reading too many twilight novels.

But I still like it.
Bulkhead, love the chin, and the design, but I do miss his big truck mode.
Megatron doesn't remind me so much of Movie Megs, but more so something out of Starcraft.
Optimus Prime is clearly his movie counterpart, but the truck mode's lack of real world lighting and shading makes him look really bland.
Bumblbebee, surprise, surprise, he's biased off of the movie. So that's a meh from me. I understand why, but it still doesn't even things out for me.
Well these are my first impressions, but I'm holding off making my final judgement until I see something that doesn't look like a pre-rendered animation model. Why they decided to release these unfinished images is beyond me.
I'm still gonna watch it, but I'm not sure if that's because I'm a TF whore, or I am genuinely interested in it from what has been shown.
Also, that whole Ratchet is Prime's best friend thing instead of Jazz: I'm sure that they meant from the perspective from within the team, not in general. Since other members of Prime's War for Cybertron cabinet are not there, Ratchet wins by default.