OK, I finished the first cut, and was quite happy with the way it came out. Unfortunately, Womble has decided it doesn't like my cut, and has ruined the audio in the second half of the movie, and has made some jumpy cuts. I've tried to fix it, but it looks to be lost. I learned some little things on the first cut, and I noticed some missed extra frames, so I think I'll just keep this as a reference, and start over.

I'm planning on doing a trilogy of cuts at this point:
The first cut will be the soft cut. I will basically remove as much of what I deem offensive as is possible, without getting into reconstructing the entire soundtrack, and without creating any holes in the plot

The second cut will be the hard cut. It'll be a while for this one, as I'm going to do some extensive rebuilding of the soundtrack, to try and eliminate the nu-rock songs, and to remove even more of the filler human scenes.

The third cut will be the G1 cut. This one will take me forever. I want to just do it for fun, but it probably won't be much fun. Going to cut in the original voices, a few of the old songs, mainly from the TV show, not so much the movie and just rework it as a more first generation Transformers movie.

I hope to have the first cut done in the next few weeks. At that point I'd like to send a couple copies out for people to critique.