The first Matrix is okay; the second one didn't impress me. My friend more or less conned me into watching both of them.
The plot of the second on seemed to make little sense. I think the whole point of the movie is just to show off Neo's super powers and use special effects, and smoke and mirrors to impress people.
For one thing, Trinity and an agent start off falling from a building shooting at each other, yet they miss constantly. Now, unless they have awful aim, this part is ridiculous. They are at point blank rage. They are in the middle of free fall. It doesn't show either party dodging bullets. Why all the mis-fires?
Another thing someone else brought up from another forum: The movie mentions the sentinals are about to invade Zion, yet very little of the movie actually deals with this issue.
But that's just me. If you enjoy the series, then have fun.