According to director Michael Bay's website, he started day 1 of pre-production with a meeting with ILM, probably on how to make more explosions, or put testicles on Optimus Prime, but whatever. Apparently, tomorrow Bay has a meeting to discuss character plans. The date the movie is scheduled to come out is July 1st, 2011. Originally, Bay had said he wanted some time off from the world of robots in disguise to make a small movie, but obviously something more than likely a crazy amount of money changed his mind.
Bay also noted that Megan Fox would be returning and took the opportunity to be clever.
"Megan Fox, welcome back. I promise no alien robots will harm you in any way during the production of this motion picture. Please consult your Physician when working under my direction because some side effects can occur, such as mild dizziness, intense nausea, suicidal tendencies, depression, minor chest hair growth, random internal hemorrhaging and inability to sleep. As some directors may be hazardous to your health, please consult your Doctor to determine if this is right for you."
So, get your earplugs ready, and prepare for another explosive adventure with Shiah, Megan, Optimus and the rest...oh yeah, and there maybe some stuff blowing up.