I have transformed my Arcadia VF-4G. It is fun and everything locks into place. The only annoying moments were the missiles and the cockpit mechanism but it is not terrible either.
I personally will love to have Bandai's tampo on my Arcadia models but it could be worse too. So I am very happy with my purchase and now I will probably stop buying Macross figures until the beautiful VF-31 come out.
I went to the Wonderfest and the color seems the same as the previous Wonderfest and the Akihabara sample. Probably you won't like it. It looks a little saturated, not Max saturated, but still.