On the last Wednesday of March 1999, a relatively expensive sci-fi film filled with un-bankable actors and above-average special effects was released amid great curiosity. Thanks to a clever script and catchy taglines, “The Matrix” registered the highest grossing April weekend ever, garnering more than $27 million, and went on to become the fifth-highest grosser that year. Fans of the genre and critics worldwide lauded the movie, and its stars, Keanu Reeves, Laurence Fishburne and Carrie-Anne Moss, were thrust onto the Hollywood A-list.

While the film presented avenues for a sequel, it featured some degree of closure and was more than capable of standing on its own. However, after raking in more than $170 million, its distributor, Warner Bros. – perhaps blue pill-induced – quickly announced two big-budget sequels would be produced and shot concurrently.

When “The Matrix Reloaded” was released in May 2003, it scored what was then the second highest opening weekend of all time, netting more than $90 million at the box office. But, while the grosses were up, the reviews were very much down. Film critics fumed over the sequel’s scenes in the film’s underground city of Zion – complete with tribal dancing and long-winded speeches – and fans expressed dismay over the franchise’s new direction. Whereas the first film garnered a grade of “A” from 65 percent of those logging on to the film revenue tracking Web site Box Office Mojo, more than 60 percent of those watching the second scored it a “B” or “C.” Entertainment Weekly’s Owen Gleiberman dubbed it, “An insanely pretentious and dazzling cyberaction sequel.”

Such a scenario has arisen once again with Disney’s “Pirates of the Caribbean” franchise. When the first film bowed in 2003, in “Reloaded’s” shadow, it too featured a cast of unprofitable stars (Johnny Depp, Geoffrey Rush), unknown actors (Keira Knightley) and unproven talent (Orlando Bloom). And, like “The Matrix,” it too earned a grade of “A” from 60 percent of Box Office Mojo’s voters, and was capable of being a stand-alone movie.

Of course, $305 million later, that was not an option. Like Warner Brothers, “Pirates” distributor Disney announced two big-budget sequels would be produced and shot concurrently.

The second swashbuckler, “Pirates of the Caribbean: Dead Man’s Chest,” opened last weekend to $135.6 million, the highest grossing weekend of all time. Of course, more money doesn’t always mean more love, and critics have summed “Chest” up to little more than a two-hour-plus bridge to the concluding chapter. Roger Ebert likened the film to the theme ride it was inspired by, saying it was, “all thrills, special effects and nonstop action – but with virtually no cohesive or compelling story line.”

In this case, however, the critics may be speaking only for themselves. Brandon Gray, president and publisher of Box Office Mojo, says fan scores for “Pirates,” despite the critical backlash, have remained high.

“This is the most anticipated movie of the summer,” he said. “The critics might not like it, but the public is not as disappointed.”

So too, in comparison with this summer’s other big-budget sequels, including “Mission: Impossible 3” and “Superman Returns,” Gray says, “ ‘Pirates’ is a much more entertaining movie.”

That redeeming quality may bode well for the final picture – in stark contrast to “The Matrix Reloaded” backlash.

“I don’t think it’s quite the disaster ‘Matrix Reloaded’ was,” Gray said of “Dead Man’s Chest.” “It (‘The Matrix Reloaded’) was reviled by most people.” When the “The Matrix Revolutions,” was released in November 2003, fans and critics seemingly had had enough of the franchise’s special-effects-over-substance. Its box office dipped well below its predecessors, while its fan scores also tanked (45 percent of Box Office Mojo’s graders scored it “C” or lower).

As for the third chapter in the “Pirates” movie – tentatively titled “At World’s End,” and slated to be released on May 25, 2007 – Gray expects it, too, will reap a large booty.

“It was still a satisfying enough thrill ride,” he said of “Dead Man’s Chest.” “(‘At World’s End’) still should have a massive audience.”