Everyone's talking about the new, loooong Rolling Stone expose of Larry Wachowski, one half of the creative duo behind Bound, The Matrix, and V for Vendetta. Much of its many thousands of words are dedicated to Larry's immersion, apparently ever-deeper since the first Matrix film made him a zillionaire, into the world of sex clubs, transvestitism, and sadomasochism. The article goes into detail into Larry's relationship with Mistress Ilsa Strix, a dominatrix who says her "greatest accomplishment" was "putting 333 needles into a single penis" (it is unclear if the penis in question belonged to the aforementioned filmmaker). Through Ms. Strix, Wachowski has apparently found an outlet through which to experiment with various fetishes, from cross-dressing to torture. None of which are inherently problematic – unless you're of the mind, as some of RS' Peter Wilkenson's sources are, that the latter two Matrix films owe their general suckage to Ilsa's influence.

Sources claim that the most garish and widely criticized elements of Reloaded and Revolutions – particularly the former's over-the-top rave scene – slipped through the Wachowskis' bullshit radar because Larry "was totally concentrating on Ilsa." What began as a professional master-slave relationship developed into more when Larry started flying Ilsa, first class, to Austrailia to "tend" to him on the set of the two sequels. "Larry would pick her up at the airport dressed as [Larry's female alter ego] 'Lana,'" says a source. "He would get depressed and moody when he had to go to the set dressed as a man." By the time the Cannes Film Festival rolled around, Ilsa and Larry were making appearances together as a couple, with Ilsa showing up on the red carpet looking movie-star beautiful – "perfect skin, blond hair falling to her shoulders, white teeth gleaming" – and Larry – "his eyebrows were plucked, he wore large teardrop earrings... his fingernails were manicured" – done up almost as glamourously. Rumors started to swirl that the 6-foot-3 working class boy from Chicago was preparing for sexual reassignment.

Was there any truth to the rumors? Wilkenson's investigation doesn't result in any clear-cut answers. The Wachowskis' friends are (probably smartly) not talking, and though the writer gets statements from many representatives from the LA BDSM community, one imagines at least a few of them have ulterior motives. In the years since the last Matrix sequel, the Wachowski camp has remained curiously silent, even as the brothers lurk behind the scenes of Vendetta, which they are said to be heavily involved in, although aren't directing. In bottom-line obsessed Hollywood, if and when Larry does emerge from exile and show his pretty face, will anyone let a little sex change stop them from letting him make them millions of dollars?