"Was it good?", a girl outside asked a man coming out of the cinema beside me. "Terrible", he replied. I didn't rate it very highly either, and it certainly wasn't up to the standard of director John Woo's previous two offerings "Face Off" and "Broken Arrow".
I haven't actually seen the first Mission Impossible film but unless it was absolute drivel (doubtful since they made MI2), it proves that the sequel theory ('oh, the second film in a series is always better, look at the Godfather II, Star Trek II, Superman II etc.') doesn't always hold true.