The best comparison, in terms of gameplay versus license, that I can think of is
Batman: Arkham Asylum, in that the Unreal Engine 3 has been tweaked and molded into replicating the experience of being a gigantic fucking robot that transforms into a jet / truck / tank / car, in much the same way that
Arkham Asylum made you feel like a master of ass-kickery, fear and intimidation.
Take
Battlefield: Bad Company 2's class system,
Gears of War-style action (in that it's fast-paced, third-person, very frantic and mobile) and
Modern Warfare perks, with the gameplay tweaks I mentioned earlier, and it comes out into a great experience.
There are few things as satisfying as zooming around as a Scout, transforming into robot mode, cloaking, sneaking up behind some Decepticon scum, decloaking with a melee clobberin' and a pistol shot to the head, transforming back into vehicle mode, dodging some shots from more Decepticon scum, zooming up a wall until you're driving on the ceiling, and then dropping down to the ground, transforming in mid-air, landing in front of some dumb bastard who didn't bother to look up in the sky, and demanding that he give you his
face.