I remember enjoying the first MK film when it came out; the action and humor were top-notch.
As for "Annihilation", I liked the overall story (Liu Kang vs. Kahn, with both realms' fates in the balance), but some plot points were executed very poorly (Animalities, recasted actors, and Shinnok among them). The second installment is notable in genre circles though, for being Ray Park's first film role (he doubled James Remar as "Rayden", and also portrayed one of the black-clad ninjas).
As for the series' filmic future, Threshold Entertainment had planned to shoot "Mortal Kombat - Devastation" a couple of years ago, but Hurricane Katrina changed that. After the 2007 WGA strike, the third installment was put on hold indefinitely.
