Here's what I would do if I received the rights to produce a videogame based on the Matrix license:
I'd make it turn-based and tactical.
The game made by Shiny, Enter the Matrix, was (and this is not meant to insult anybody involved) a horrendous, steaming pile of shit. My favorite element was the console-hacking, even though I needed to use the walkthrough to do anything with it (how about in-game hints? how about actually merging your gameplay?).
The Matrix MMORPG seems to be in a precarious position. They've drastically reduced their number of servers because there just aren't enough people playing. I admit that I haven't played it. I'm curious as to how, exactly, the Interlock system works. The theory behind it makes it sound pretty awesome. The reviews I've read say it's okay, but not fantastic.
But anyway . . . Enter the Matrix failed to capture something core to the movie - beautifully-choreographed fight scenes. Yes, they tried very hard to get the fighting done right, but doing that in real-time just won't cut it. Not even with a spiffy slo-mo effect. I would have been happy if, instead of a game, they had just released a nice little (easy-to-use) fight-choreography program. Like dominoes, set up some actors, give them some directions and start 'em up.
Maybe somebody could mod the upcoming Molyneux game The Movies for such a thing.
Not sure what kind of rules to impose on that system. Someone might know of a good and interesting and workable way to have simultaneous turns without it being all hinky. You could put points in attacks and reactions. Attacks would be chosen, reactions automatic. The body could be divided into different zones (head, elbows, hands, shins, knees, etc.) with various abilities associated - attacks, blocks, dodges, feints (more?).
I'm just kinda jonesing for another X-COM.