This is the best Tramsformers movie... probably ever.
86 is likely still the favorite for some fans, and it has some spots that are clearly better (for example not being infected with the insincerity that's been plauging Hollywood. It's not super thick here, but it could have afforded to take itself more seriously. The other big one being the sound track. But rock opera will just always be cooler them generic sweeping orchestrals.)
But Transformers 1 delivers an origin story that has a lot of heart and shows us both where these characters started, and the journey they took to get where they were going.
Also it's not as tied down as the live action movies. It's comfortably making real life political parallels without feeling the need to go over the top or pick a side.