The current issue of Empire, (a UK based entertainment magazine), has an article on TF3 and Bay.
Random notes and thoughts:
Bay was unhappy with the mystical elements of TF2. (This might be the first time I have agreed with him on anything storywise.)
The 3rd movie will have less idiot humour.
Orci mentions that a huge Transformer will show up in TF3.
On a personal note, I really wish Bay's movies were better or that my standards were lower. Much of what fitlers out about Bay in personal terms is very favorable. He seems to be the sort of person whose work I would want to admire, or at least enjoy.
Dom
-still betting TF3 will be bad though.