This film is a bit of a mix with the gadgets of a bond film, but with the intrigue and supspense found in the TV series. The basic plot is that Ethan Hunt (Tom Cruise) is the only survivor of a mission gone wrong, where the team end up dead. Ethan hunt has to clear his name, as they thing he is a mole.
This is an intelligent thriller, with a number of plot twists. There is a bit of a conspiracy involved, as Ethan finds out more about the purpose of the mission. Also the stunts are very impressive, and are genuinly tense. The sequence where they abseil into the CIA building to get to data from a computer is tense, as are most of the action sequences, which are an integral part of the film.
I don't think this is a classic, as thriller go, but this is one of the best thrillers around, and sets an example to the makes of the Bond films, of what they should aim at.
They could have fallen into the trap of putting in too many action sequences, and ignored the plot with this, but the balance is just right, as the plot is always the main concern, and all the action revlolves around it. The MI Francise was not wasted here.