Never been much into the Halo franchise. I played through the first game once, and I think I played a bit of the second one, but not all the way through. When my friend first got his 360, Halo 3 was all he played for almost a year, so consequently, I saw a lot of it. I can't count how many times we played through the campaign, but I still had no idea what was going on. so I'm not surprised that the story here doesn't get any better.
I enjoyed the characterization of the story as 'going from USB port to USB port,' though. That's always what it's felt like, to me.