Alright lads tell me what you think, what you see here comprises at most 1/3 of the thread I'm making if not 1/2 of it :V
A quick history
IDW began publishing Transformers comics on October 2005, back then it was helmed by Simon Furman, long time collaborator and author of many TF comics from the 80s and early 90s. Other authors and artists would work on the series various stories and miniseries. This would go on until December 2011, culminating in what is now referred to as Phase One.
Phase Two would begin in Early 2012 with 2 mainline Transformers books; More than Meets the Eye, written by James Roberts, and Robots in Disguise written by John Barber.
I will be focusing primarily on MTMTE, because unbeknownst to many, it is a fantastic book with great drama, humor and emotional moments.
Whether you are a fan of the franchise or not, this is a series that I strongly recommend giving a chance as it may surprise you to see just how far and how much can be done with such a franchise, the likes of which could never had been conceived before.
If I were to compare this comic to any particular series, in order to give an idea of what to expect, then it would have to be the Mignolaverse; namely Hellboy and BPRD, wherein characters are given major focus and the plot progress with or through them, as well as the depth gone to establish and present the characters.
Such is what youd expect to find reading MTMTE; a character focused narrative that goes on as the plot progresses, if not progressed by.
In addition if you enjoy reading, chances are you will enjoy this series even more.
James Roberts writing also has an interesting style to it; utilizing call backs, foreshadowing and subtle visual hints, such as background events going on in panels, when writing the stories. This will become apparent in re-reads of certain stories, or even in a single issue; something could be mentioned at the first few pages of an issue, in passing even, that will be referenced or have a bigger impact pages later. Also humor, theres some really nice humor in this book.
The main reading order for the series goes thus:
Transformers: Last Stand of the Wreckers
Chaos Theory, a 2 part story collect in the TPB Transformers: Chaos Theory
MTMTE Vol. 1-3
Transformers: Dark Prelude
MTMTE Vol. 4-5
TF: Dark Cybertron
The rest of MTMTE
For the most part the reading order is easy to figure or pick up, however the first 2 stories are in fact Roberts first official work on the IDW Transformers series and he introduces many of his ideas and concepts in them.
I will be doing quick short previews of the first 3 in the list above at least, to help get an idea of they contain. 
Last Stand of the Wreckers
It's a little difficult to describe Last Stand of the Wreckers outside of its premise; the rogue Decepticon Overlord had taken over the Autobot Prison Facility Garrus-9 and has been ruling over it for 3 years. Autobot High Command, upon realizing they had lost contact with the facility, mobilize the Autobot's Black Ops unit, The Wreckers, lead by Springer, to infiltrate Garrus-9 and free it from Decepticon control.
This miniseries marks the first project that James Roberts has ever worked on an official Transformers comic, being a long time fan of the TF series. The success or well reception, of this miniseries would be followed with him heading a mainline TF comic, More Than Meets the Eye, and it becoming nominated for many awards.
The art in this book is handled by Nick Roche, another long time fan of the series and who worked on various TF comics with IDW. Josh Burcham's colors add great depth and visual style to Roche's pencils, helping panels that are character focused to really stand out and be imposing.
The first issue begins by showing Garrus-9 under siege by the Decepticons. The chief warden, Fortress Maximums aka Fort Max, is undeterred by the assault. Notice how the very first page sets things up instantly with the pace of the dialog not dawdling and giving the reader all the information they need.
On the next page, every Autobot and Decepticon's worst nightmare descends on the scene;
Following the fall of G9, being the above events, the book switches to a group of Autobots, never before or rarely if ever known or seen in the many TF media, they are the new recruits for Springer's Wreckers team, waiting at a space port to join with Springer.
As this ragtag group boards the ship they meet with Verity, a human who the Autobots befriend during their battle with the Decepticons on Earth. She had stowawayed on Magnus' ship and has been working with him for the past few years. They eventually meet with Springer who briefs them on their mission; free Garrus-9 from Decepticon control.
The remainder of the issue becomes character focused, letting the reader know about the characters, their personalities and quirks.
By the end of the first issue much is established (at least character-wise), such as the brutality and the ferocity of Overlord, and a keen eyed reader would notice that a character shown in the first page returns in the handful of final pages of the first issue.
The 2nd issue shows the team preparing for their mission along with some more characterization and interaction between the cast. It closes up with the mission being underway, and like many stories have shown, nothing ever goes according to plan
One nice callback in this issue is the team's reaction to discovering theyre dealing with Overlord-
That's as much as I'd like to write about the book, one can read the entire 5 issues digitally or in print via Comixology or various online retailers.
It should be noted that the Hardcover contains some additional text stories that serve to add more background to the characters in the book among others, such as characters that would end up appearing in MTMTE.
With LSotW, Roberts lay down the foundation for what MTMTE would build off of, as in LSotW he introduced many aspects and ideas that serve to expand on the lore of the TF series.
All in all though Last Stand of the Wreckers is a good stand alone story, one worth going back to from time to time, at least to see elements that Roberts would use in the main MTMTE book.
As an addendum, consider tracking down the one shot story Spotlight: Kup, which was written and drawn by Nick Roche. It serves as the motivation for Guzzle joining the team and remains an interesting stand alone issue. 
Chaos Theory
The events of this story takes place a few years after the events of LSotW, with a most peculiar incident; Megatron willingly surrendering to the Autobots. No Fusion Canon blasting or bludgeoning with a cyber mace, nothing; straight up surrenders to Prime and his cadre of Autobots.
The Autobots wouldnt have time to contemplate this surprising turn of events for long though; a sinister threat is approaching their once home planet of Cybertron, and so Optimus forms a crew and together they leave Earth and travel to Cybertron taking Megatron along as their prisoner.
Thats about all you need to know going into these 2 issues which are a must read primarily due to the fact that it focuses on
Optimus and Megatron and their views of each other. Even if you've never read a TF comic before, these 2 issues can easily be gotten into primarily for the focus on these 2 characters and the flashback story, making it a really good standalone story.
This story focuses on 2 events: Pre-war Cybertron flashback that tells the events of and following the arrest of a miner by the name of Megatron, and the present time events that unfold aboard Omega Supreme between Prime and Megatron, as the Transformers are traveling to Cybertron
Before I continue I should point out that this is one of the earliest collaborations between James Roberts and Alex Milne; Milne would go on to become the main artist on the More than Meets the Eye series, if his artstyle isn't recognizable here, then it is very likely due to the coloring, which was done by Joana LaFuente.
There's a lot I like about this 2 parter; for one the writing and dialog is well done, gets the message through, fun to read (IMHO) and is easy to follow. In addition, much like how one of the things All-Star Superman is praised for being that a single page tells a lot on its own, applies here. For example, here is the very first page of Issue #22-
From this one page you learn everything you need to know about pre-war Cybertron's society. Here's the 2nd page that follows it, the dialog and writing works to expand on what was established in the prior page-
The first issue would jump between the Megatrons arrest (in pre-war Cybertron), and Optimus (in the present time) getting around to doing something we've rarely, if ever, seen been done in many TF media; just sit down and talk to Megatron.
Remember how I wrote about how a single page tells a lot on its own? Same applies here even though I've shown 2 pages, but show that to ANYONE who is a huge fan of the 80s cartoon and they're likely to get a big stupid grin on their face. I just can't get enough of Megatron just sitting on that chair all casual, arms behind his head in a relaxed manner talking to Optimus Prime like he's a good old friend.
Their discussion goes on for quite a few pages, filled with some great back and forth between the two.
Following their interacction, we get to see Autobot High Command deciding on the fate of Megatron, presented in a 2-page spread, and here as well you can see the fast pace at which the discussion goes, while also getting the message through to the reader quite clearly.
The 2nd part of the story goes on to focus on the fallout of Megatrons arrest, shifting focus onto Optimus Prime, then Orion Pax. If you were ever a fan of Optimus, then you will love this issue because it is full of badass and awesome moments of the character.
More than meets the eye would build off elements mentioned in these 2 issues hence why they are necessary for the enjoyment of the main series as a whole.
In closing, this 2 parter is a great self-contained story that one can go back to time and time again, and even those who hadn't touched anything or many Transformers related media other than the 80s G1 cartoon will appreciate and enjoy.