A YouTube video of the Transformers 3 set was captured in downtown LA next to the Barclay Hotel, and the video has geeks fans talking about the new – or possibly new versions of – Autobots that will be featured in the film.

Take a look at the video and then we’ll talk who or what it is we think we’re seeing.

There are three cars in the video: one is the yellow Chevy Camaro we now know and love as Sam Witwicky’s (Shia LaBeouf) best pal, Bumblebee. The red car is believed to be a Ferrari 458 Italia (a new Autobot?) and the gray car is a Chevy Corvette Centennial Convertible.

Take a look at the video below and then we’ll move on to the speculation:

So the red car is anybody’s guess, but early word around the Blogosphere is that the gray Corvette Centennial Convertible is actually a new version of Autobot Sideswipe, the robot with bladed arms and tires for feet, who was so cool but shamefully underutilized in Transformers 2.

If you need a reminder of just how badass Sideswipe is, there’s a video clip below that should help job your memory (sorry that it’s not in English):

In Transformers 2 Sideswipe was a Chevy Corvette Stingray hardtop, so it’s not that much of a stretch that he would “update” himself to keep in step with the latest Corvette model (read: Chevy wants to promote its latest, greatest design). Here’s a side-by-side of old Sideswipe vs. new Sideswipe (if this rumor turns out true):

What do you guys think – is this the new Sideswipe we’re seeing in that YouTube video? Do you hope (as I am) that the character gets much more screen time in Transformers 3? Which Autobot do you think that red Ferrari represents?

Transformers 3 will be in theaters July 1, 2011.