Way better than the first.
Graphics- They are indeed better than the first, and it is more colorful compared to the dull color the first game had.
Gameplay- The controls are better and you can do a couple of new moves. Like downward slash.
Story- Story is deep and it keeps you playin until the end.
Overall the game is better. If you hated the silent main character in the first. The new guy has a voice.
The bad- Although it's a good game, It will still get repetitive at sometimes. If you were a fan of the first Drakengard, give this one a try.