The Bay films have some nice nods, but its mostly the product placement that does my head in really.
This is kind of a moot argument with regards to Transformers (and indeed many fandoms originating from a toyline, He-man and GI Joe for example). The entire mythos is designed for the sole purpose of selling the toys, so calling the film out for product placement is basically like saying water is wet =P
Well no not really, because its now gone beyond selling the toys of which it shares its name and now features more product placement (much of which is needless) than a Bond movie.
Now, recognisable cars are to be expected, but there are long panning camera shots of cars like Fords Mustang, close-ups of badges, and thats just the cars, there's computers in there, XBox 360's, alcoholic drinks, junk food, Bay's own directorial history, hell you could kind of argue there's some Top Gun-esque Military advertising going on in there too, the Transformers films are essentially an extention of all the ads you get as you find your seat before the movie starts. It goes a long, long way beyond advertising toys.