This project will be handled in the GI Joe camp, Devil's Due Studios.
The GI Joe comic at Image isn't marvelous, but if you like GI Joe its pretty good. The team had been disbanded stortly after the Marvel series and recently got back together to combat a reformed Cobra. Characters are older, but it does a pretty good job of keeping with the Marvel continuity and feel of seriousness it had. The second comic Frontline has a really good storyline that started a few weeks ago. Frontline #5 is basically John Carpenter's The Thing with GI Joe characters. Hope they don't kill anyone since they're all name brand characters on the mission.
Anyway the point of talking about GI Joe here is the rumor I found on Comicbookresources.com the other day. Scroll down to Talking of Which. Hasbro's concerns seem valid enough to me. The books (mainly Gen 1) were late, characters that were pretty straight forward to begin with were changed around, and the storyline was pretty dark. It also covers the problems with the Profile book. How hard is it to profile a Transformer anyway? Read the tech spec and watch some episodes. Sounds like they took it way in another direction. I hope they don't cancel Armada though. I'm starting to like that book a lot. I went out and bought Starscream and the Dark Star Saber too. After #9 "When Mini-cons Attack" I wouldn't mind buying a few sets of those too. Long story short, Transformers out sold GI Joe by 50 to 75 copies at my store and will probably do so again with Gen1 v2. But as storylines go, GI Joe is a little better because I really think the team behind it knows the material better than they know Transformers at Dreamwave.
And while I'm at it, here's a shocker for ya. After reading all the 80s retro comics, I have to say the best quality book over all is......Micronauts! I know it sounds crazy, but it really is good. And not because the reader has to use fond memories to make it good. Masters of the Universe wasn't bad, but it would be pretty hard to mess that up. It all comes down to the creative teams and how much they love and know the material.