I am not great movie freak so I am always late to watch any movie, however superhit. Same with the Mission : Impossible trio. I had wathced the first part very late and do not recall much details of the second part. MI III following the common trend of movie industry came out to encash the success of its previous movies. Tom Crusie being actor and producer wanted to milk it out till last drop.
I dont want to narrate the story , you can check it out at Wikipedia (yes, wikipedia showcases it!!). I think I have little bit of intelligence left so I was not able to digest what the movie offered. Stunts and use of hi-tech gizmos are little bit over strechted. I am not against the real stunts as done by Jackie Chan, rather I like him for that thing, that he does it really. But if the stunts are performed using computer and other hi-fi techniques, then it is less appealing to me.
Again, use of hi-tech gizmo is permissible upto certain extent, till the intelligence reaches. Now in the movie Tom could create a perfect mask of the villain within a few minutes using some carving machine. Just think that, it requires few days to a master craftsaman to create look-alike mask of any person. Here hero can create such mask, that even too without the physical presence and without taking any measurement, just by using some photographs received by another team member.
As it happens with most of sequels, it fails to give the excitement of watching the original movie. While choosing which movie to watch, I picked MI III over Ice Age 2, now I think I would have enjoyed the later more. So if you are MI fan, it is must for you, otherwise nothing to regret.