Gamespy couldn't stand back writing a preview of The Matrix Online either, and here's a part of their article for you, talking about the setting of the game:
Apparently, Matrix Online takes place sometime after The Matrix: Revolutions, the third film in the series. Although they were careful not to reveal any hints of the plot of wither the second or third movies, obviously at this time the Matrix still exists, although more and more people are waking up to reality and choosing up sides. Some people - called "Zionists" after the last human city, want to break the matrix and reclaim the real world. Others, seeing the devestation of reality, cast in their lot with the machines and fight to keep humanity in their virtual prison. Deciding which side to join will be one of the first decisions a player has to make. |