I just got a screening of M:I 3 last night! (spoilers ahead!)

Rating: 10/10 (2 May 2006)

Actually, I was pleasantly surprised, a much bigger and better improvement over the awful Mission Impossible 2, but, about the same league as the first film. This has a much better story, better action sequences, and this time, the IMF team is actually a team.
Ethan Hunt, who has recently retired from active field agent IMF service is working as a "construction worker" and is now recently engaged to Julia, his fiancée and doctor.
Hunt is pulled back into agent duty when one of the agents he trained, (A very kick butt Keri Russell) is captured by international arms dealer, Owen Davian, easily the best spy bad guy of any film in the last decade.
The plot involves Hunt being sucked back into active service to retrieve a deadly agent called "The Rabbit's Foot" for Davian, and man, this film makes the action sequences in Mission 2 look like child's play.
I really enjoyed the film this time around, sure, some of the parts of the story are lame at times, but the action delivers the goods. Once the IMF team hits the Vatican, it picks up steam.
The first half hour is kind of slow, but once the second hour rolls around, it's action galore.
Hunt's IMF teammate Luther is back, along with two new agents on his team, the beautiful Chinese agent, Zhen, (played by the beautiful Maggie Q) and Declan played by Match Point's Jonathan Rhys Myers, who is relegated to driver duty.
Some of the action sequences, including a jump from a Shanghai skyscraper, and an ending bridge sequence are completely unbelievable. Only the director of Alias, JJ Abrams could have pulled off action sequences this amazing without looking completely silly.
This is definitely a massive improvement over the second Mission film, and I would rank it beside The Bourne Identity as two of the best spy thrillers in recent years.
As the saying goes, check your brain at the door and have a great time with this film!
It's a perfect blending of True Lies, Bourne Identity, and the first Mission: Impossible film.
The Mission franchise is thankfully back on track!