1. Better story/plot than TF1
2. Less comic relief (much of the comic relief in TF1 was lame)
3. More character development (both humans and TFs)
I basically agree with this, though I'd probably go with 'better characters' as far as the humans are concerned. Either make them interesting or shove them to the sidelines, but either way I'd want more prominent role for the robots.
Hey, it's Transformers
. If the six-year old in me doesn't have a vote, what's the point? He likes dinosaurs. I know we're not getting Dinobots. But I'm doubtful we'll get less comic relief either.
I don't have gripes with reviving Megatron - I think the film allowed for that possibility and he is, anyway, the quintessential Transformers villain. Maybe this film could do a little more with him. Reviving Jazz seems pointless, though. There wasn't anything to that character. It doesn't exactly overturn a very sentimental death scene, either, so I'm just entirely nonplussed on this.
I wasn't a dinobot fan... but I can live with them in TF3 (they're likely will be five movies). I'm confident you'll see a Dinobot in TF3-TF5.
Regarding Jazz, I thought he was the third most likable autobot after BumbleBee and Prime. Jazz had personality IMO. He was brave, taking on Megatron (as the smallest Autobot in the movie taking on the second most biggest and likely most powerful Decepticon) . He was also hip and cool. IMO, his death was harder to watch than if Ratchet or Ironhide were killed.
Ratchet seemed stuffy/snobby, IMO.
Ironhide was a grumpy geriatric autobot with a heir trigger, IMO.