Jason,
I watched the avi version last night. I thought it was great. I was really impressed with how the movie still moved at a pretty good click while having all of the clutter cut out. The only thing I didn't really get was how Bumblebee started to chase Sam early in the movie. It seemed like there was something missing.
I thought Soundwave and Star Scream sounded great. The Shanghai opening sequence from TF2 made a great conclusion.
I can't wait for the final DVD. Good job!