I've always thought the concept was brilliant I've always been really into the "cyberpunk" genre from way back; if you aren't familiar with them, read anything by Gibson or Sterling, who really captured the vibe of a possible near-future with super-immersive simulation experiences.
And regardless, these three movies are terrific eye candy. A whole generation of CGI and trick-photography artists owe their careers to the inspiration of the first movie.
I pretty much enjoyed all three in the series (although #2 was a little bit too talky, as if they were afraid people wouldn't understand the plot)...
Revolutions would've been nearly perfect, except for some of the super-corny stuff. Having Trinity die? Wow! Intense! Great story point! But the way they did that scene... almost puked. It was cornier than anything Disney ever made... very disappointing.