I actually waited for this boxset to come out and didn't buy the 2nd and 3rd movies due to this. I still have my excellent region 4 of the first movie at home!

The sequels have slightly improved compression as well. It got rid of some nasty posterisation in Reloaded for a start.

if you're a fan and don't already have the matrix revisted or the animatrix too, then i'd say definately. Heck sell those original dvd's and get the set. Keep the other movie discs for their unique content. There is an incredible amount of extra material and the remastered first one makes a pretty big diff in the box set. I'm happy with it and I didn't think I would be so impressed.

I seem to recall it was around $60 originally when it came out. Hmmmmmm.

I got it for christmas, so I can't be sure though.

What's the point? The first movie is the only one worth owning. All the extras are either boring special effects featurettes (which might be interesting if the latter movies didn't suck) or wankery about half-arsed high school level philosphies designed to make stoners  feel smart.