Story? come on...it's the Matrix, not exactly Oscar material. I liked this one better than the first one because it wasn't trying to be something that it isn't. It's just an action movie, and it actually had some action. The first one tried to be all deep and stuff, with it's cheesy storyline.
The action was good...I had some problems with the special effects, mainly when Neo was fighting all the Agent Smiths and was flying around...totally obvious that it was all computer animated, they shouldn't have showed his face from that close.