There were some really good moments - the council scene, the Architect, the coat. That coat was the star. :)
But the fight scenes got tiresome very quickly, and the car chase was one big cliche. In fact, I slept through most of them, and the Oracle's speech. Seriously.
And my husband got bored during the orgy. Also seriously.
We waited for Neo to go to another level in his learning and we waited for there to be more questions.
We got the latter, I will say that. There are hints that there are additional layers to the Matrix, and further hints that this "real world" is also part that.
Or that it's all a first person shooter, which is what my husband believes.
But there was an hour's worth of movie in all of that. *sigh*