Overall impressions: More electronics, lots more gimmicks, and less articulation. At least it looks pretty nice.

Features: Transforms from robot to buggy to multiple weapon modes to attach to Megatron.
Pros: Makes a decent weapon for many other toys to hold, or attach to a minicon peg.
Cons: Simple and Go-bot-like, right down to the name. Arm joints are a bit loose.
Megatron (Decepticon, Really big green H-shaped tank)
Features: A switch opens up three minicon attachment pegs on the left front of the tank, and theres a 'launch ramp' on the opposite side. The rear sides of the tank include a pull-out compartment for minicons, and a ramp with a claw to capture them. A minicon on the turret hatch can set off a machine-gun sound when the hatch is turned. A locking switch can flip up a dual missile launcher with a sound effect. If the tank cannon is pushed back, it shoots a missile with a cannon sound. As the turret is turned, The toy says 'Decepticons attack!' with the rest of the weaponry noises. This turret can also be brought to the front in robot mode and turned with a crank. A slider on his left arm can produce a knife in his hand (though with a tank cannon at his hip, it doesn't seem necessary). Finally, the horns on Megatron's head can be pinched together.
Pros: Surprisingly impressive and good looking, especially in robot mode. Seems to combine elements from Original and G2 Megatron with Headmaster Scorponok. Loaded with gimmicks that all work rather well, some in both modes. This is another toy I found a lot more impressive and enjoyable in person than I first expected.
Cons: All the gimmicks seem to come at the price of articulation. The arms are OK, but the legs are incapable of moving anywhere but to the sides, and it shouldn't have been too difficult to add some better joints in the hips at least. Tank mode isn't bad, but Megatron's horned head sits rather obviously in front as a claw. The looks and the gimmicks seem to balance out a lot of the shortcomings however.
Score: (out of 10, large toy counted twice) Megatron 8.5, Leader-1 6, Overall 7.7