For me this movie is now already a classic. I previously owned this title on DVD, and surprisingly, I noticed less improvement going from the DVD to the Blu-ray than other titles. Why is this? Well, the original DVD was anamorphic with excellent mastering, if also looks quite good when upscaled and has a pretty good surround mix. All that said, the blu-ray is impressive. Watching both back to back I noticed better color, better resolution and more defined sound. I am still not sure whether it was really worth the cost to upgrade to blu-ray in this case, but I do know for certain that I now have 2 DVD copies of the Matrix to get rid of versus the one I have previously (my old copy, plus the one from this Blu-ray + DVD combo package).
I would like to add one more thing, for those who have not yet seen this movie, the great story and excellent picture and and sound makes this a five star rating. For those that already have the DVD, it is a 3 star. Therefore, I give it a 4 start overall rating