I loved the first film, it was just the way it was done and executed plus Carrie-Anne Moss in that catsuit was intriguing
The second and third ones though were just all right. Watchable, but so utterly generic and watering down of the original concept I felt them insulting to everything the first had done. If they do make more sequels, I don't think they could really recover.
As for other popular film franchises, Star Wars is the epitome of awesome AS LONG AS YOU IGNORE THE PREQUELS. Just pretend they never happened and you'll be in a happy place. Oh and find them on VHS before Lucas took a big editing dump on them. I swear, the phrase "beard with an idiot hanging off it" has never been so true as it has been to describe that franchise killing douche.
I love Fast and the Furious. Even the second one. I don't know what it is, maybe the mediocre scripts, terrible acting, Michelle Rodriguez in a white top, the hope that Paul Walker gets crushed by a jumping badly modified Jap car or the incredible 10 minute quarter mile races. Something keeps dragging me back to them
I'm totally with you on the Lord of the Rings though. Great production values, awesome locations and a brilliant collection of actors but more boring and bland than Mr Q Bland of Borington Street, Snoozville Upon Dull.