Soundwave is pretty sweet. Sleek for sure, far fewer greeblies and tech details. Transformation is intuitive, and different in minor ways from the Siege mold. Some leg panels confused me having cassette player details which I figured would be exposed, but they tuck away in alt mode. Colors are bright, vivid. Weapons are good. His rifle is interesting, as I always used to display it so the missile barrel "wings" were positioned vertically, but they are stuck slotted in and out horizontally.
The cassettes are fine. Ravage uses some of Steeljaw's transformation but is definitely a totally different mold. The birds are very simplistic and maybe attach to the rectangular pegs on Soundwave's forearms? They don't do so very securely though. The missiles and rump are a separate piece from Ravage, and the engines are separate from the birds. I much prefer other versions where they're all in one transformations, no removable parts.
Soundwave is almost too simplified. SS86 Megatron feels like he has way more details. Soundwave seems to fit more with Optimus in terms of detail. I'm sure he'll look right with the Seekers. I don't love the idea of rebuying a bunch of characters I have just for this stylistic change though. But I'll wait and see what they release.