Just finished my series rewatch, and I'm at the point where I can say Revolutions is a good movie. For as bad as the initial reception was, for me the movie has gotten better and better on each subsequent viewing. I think the movie has aged very well, and will continue to.
Still the weakest entry, but not a bad movie.
There's always new stuff I catch, or things I hold onto that didn't really grip me in the first few viewings.
For example, pretty much everything from the moment the sentinels reach Zion to the Logos arriving and blowing the EMP is pretty badass. It's 30 uninterrupted minutes of cool sci-fi action in the vein of Aliens or Avatar.
At the time, I think I and most people just wanted to go back to the Matrix to see the fighting and action we'd come to expect. But putting that expectation aside, it's a very well done battle with plenty of little arcs within the action.
I love Kid's arc, starting with his introduction in the Animatrix, to saving the day in the battle to get the gate open. (With the help of Link's wife who had some great scenes as well.)
I also really enjoy the arc Morpheus goes through, from being so absolutely certain about Neo's destiny, to a crisis of faith that lasts for most of the movie. Really makes that final moment that much better when Kid yells the war is over.
Trinity and Neo flying into the sky above the sentinels is also a great moment.
While I still don't love the nightclub shootout or the final battle with Smith, they're not terrible. Plus the final Smith battle is far better than the burly brawl in Reloaded.
All in all, if Matrix is a 10 and Reloaded is a 8.5-9, this is now a very solid 8 for me.