Just got back from TF3. I hope to hell Snyder watches this, because visually and stylistically, Bay just raised the bar dramatically for a blockbuster spectacle. 
TF1 convinced me that we were starting to get into an era in which CG, budget, and directorial vision, were all coming together to pull off the type of crazy destruction and scale that we all loved to see as kids in cartoons. Avatar took it to the next level.
TF3 just blew that out of the water. It's clear to me Bay is ahead of anyone in Hollywood right now in pulling off massively scaled action. That last 40 minutes or so -- WOW. Rarely do I get impressed by stuff like this. It's not the first time we've seen a movie try to execute large scaled action. The only difference here is that ambition was matched by technical proficiency. There are no more excuses now. A full-scale battleground can be pulled off, and rendered well even with CG characters. The fact that he did all this on top of real shooting plates is a grand achievement. 
There are a few moments where we are right next to a group of guys in wingsuits, flying through Chicago. It is breathtaking. You're right next to them, you could feel the speed, and most importantly, it looked real. I know Bay shot a lot of it in the actual air, but I'm sure CG was used to enhance the environments and the actors for certain shots. Whatever the case, Snyder needs to follow up on this. There was not a single instance in this movie where I felt the CG was lacking. Bay doesn't get enough credit for the magic he pulls off on-screen, and with lots of practicality. Snyder has similar sensibilities, and with adopting a more realistic shooting method this time around, I'm hoping he'll have the type of success Bay accomplished.