Terminator and The Matrix

I seem to recall reading in someone's LJ, most likely datan0de's, the possibility that the Terminator and Matrix series could theoretically be the same universe / continuity. Anyone care to discuss further or have places to point me to read about others discussing it further?

I just watched the original Terminator, and it's got me wanting to write fanfic - I haven't done creative writing in forever.

Fanfic: Sarah Connor is Dead

Watched the original Terminator movie all the way through for the first time. (I'd seen bits and pieces of it, but never the whole thing in a single sitting.) Because I love time travel and paradoces, a piece of fanfic came to me. Spoilers for the original Terminator movie of course, and perhaps for other random bits of movies or bits of the TV series as well.

( Sarah Connor is Dead )

I'd appreciate feedback, especially stylistic (for example, I have a specific usage of tense here that I think is confusing and I'd like to know if it is and how to improve it w/o messing up the intent), and continuity (it doesn't need to be 100% accurate b/c of the time travel, but I at least want it plausible). (Anybody have greater detail of Martin Bedell's death as portrayed in "Goodbye to All That" than is in the Terminator Wiki? I want to reference it further but haven't actually seen any of the Sarah Connor Chronicles.) Any other constructive criticism you may wish to provide is also welcome.