Two sequels. Um, how about 1?
One of the reasons that M1 was praised was due to its taut story line. And one of the reasons that M2 and M3 have been criticised is due to them "stretching out their fairly thin, basic premise". Though these are the opinions of critics and not me, I can kind of see their point that "In M2 neo spends the whole movie just trying to visit some old dude in a chair for 5 minutes".
I personally can't imagine this BUT - do you think the two sequels would have worked best as one movie?