It seems we have very similar responses to it. I liked it for a movie, and, like you said, a summer blockbuster. That said, there was so much they could have done with it had they made it longer. There was too many characters and not enough to do with them, and that made me sad :(

you can also read my more annoyed response to it in my lj, but I agree it was a good kick off, now how long until Transformers?