I got my chance to play The Matrix online yesterday and was pretty impressed with the graphics and initial story. I seems that you enter the matrix in a post truce erra where there is still a fine line when it comes to interaction with agents of the system and the exiles. There is also a decent quest/mission system which helps guide you to your target area, which I though was pretty cool as well.
The main things I didn't like were the combat system and the interface. Maybe is because I'm so used to WoW but I didn't feel that either was as intuitive, especailly close combat and weapons firing. Its an automated system with some interaction, like most mmo's, but I felt like i didn't know what to do when and how to deal the most damage.
All in all, I think the game will find a decent player base but, as for me, I'm gonna stay faithful to WoW for now.