I'll admit that I liked the first one, and was really looking forward to the sequel.
I was let down. Sure the special effects were technically amazing -- but they weren't believable looking. It looked more like a cartoon. Alright, I admit to liking 80% of the chase scene -- but the fight with all the Mr Smiths? It was too obviously animated.
I can accept all of that. What I can't accept is that the non-action parts were crap. Every time Morpheus opened his mouth, I knew I was in for a speech that went on forever and signified nothing.
I was also disappointed with the little plot that did exist. What this movie did was tell us that there was no truth in the first movie (except about the existence of the matrix). This movie was a little like seeing the episode of DALLAS where you find out that the entire previous season was a dream.
Ugh! I want my $7.00 back!