I can't really be objective about this movie; the nostalgia factor is just too great. I love it because it reminds me of my childhood, a sentiment that I think is shared by many of the movie's fans. I'll leave it up to others to determine if it's a good movie or not it the traditional sense. I will say that it sports pretty good animation (at least compared to the TV series that it's based on). The filmmakers' decision to kill off so many of the TV series' principle characters is another element of the movie that I've always found interesting. There's a level of violence here that's pretty jarring when you compare it to its TV counterpart, a move on the part of the filmmakers that was pretty ballsy in retrospect.
As for the DVD, it's top notch. The movie really got the royal treatment in regards to its DVD release, ostensibly to mark the 20th anniversary release in 2006. The cynic in me makes me think the only reason they bothered putting out such a sweet disc was to cash in on the hype surrounding the live action movie, but whatever. Definitely worth owning if your a Transformers fan or just an 80s pop culture aficionado.
This was Orson Wells' final film role before his death.