I'd have rather seen Bay et al go with the sort of transformation seen in the Citroen commercial - it was a lot simpler, and made more sense: Citroen C4 Transformer - YouTube
And, to be fair, I think a full scale transforming Bumblebee or Optimus - whether costume or RC - would be *almost* impossible, even with as large a budget as you've set.
So starting with something smaller - human scale, for instance - seems a very wise decision.