I hate gaming on the Xbox 360 (it's possibly my least favorite console of all time), but I returned to it simply to play Fable II. I wasn't disappointed, but I also wasn't overjoyed, either: the controls are awkward and the female character is ugly as sin (and has a lazy eye), but the combat is fun enough, introducing the usage of guns to vary things a little. I do love the beginning of the story, as well; I quite like my character starting out as a child. Some of the achievements and especially the demon doors are pretty funny, and keeping me laughing is a good way to help mitigate less-than-stellar aspects of any game, like still having to collect all those damned experience orbs yourself (which often get stuck on the terrain and even end up disappearing after awhile).
A good thing about Fable II, though, is that you get experience for the type of attack you used to kill enemies. If you slaughtered some hapless bandits with a sword, you'll get hand-to-hand experience points to spend; guns will give you ranged experience and magic magic experience. I thought that was pretty neat as it customizes your game a bit more. Your stature also changes based on what you often kill people with, so my girl wound up being pretty tall and buff with will designs all over her (I used all three almost equally, with extra concentration on will).
I played Fable III before Fable II (the platform being basically the entire reason why), and I can see that some things from II to III have changed that shouldn't have and others that should've changed didn't. For example, the dog's pathfinding is pretty bad and he'll often sniff out chests after I'm already right in front of them, and then get lost chasing his tail before even trying to sniff out further treasure. This happens at least once every ten minutes or so over the entire course of the game, which is extremely aggravating. This is also just as much of an issue in Fable III, much to my dismay.
Buying property is also a total pain in this game as opposed to Fable III; there is no easy way to see what you own, so you must instead travel everywhere and check house by house, which is very time-consuming, repetitive, and dull (a shame, since one of the most fun aspects of Fable III for me is owning property). The gargoyles (gnomes in Fable III) are one of the best and funniest parts of the game, one that I'll never forget, what with their ridiculous verbal attacks and insults against your mother. The Spire was another interesting bit of the game.
Quick note, by the way? Fable II Reaver > Fable III Reaver. He was so much better-looking, well-developed, and cunning in II than III, though in both games he's probably my favorite character.
I liked this game enough to be okay with my save file being on my roommate's console instead of my own, which is saying something since I will almost never play a game if I can't return to my character later. I'd recommend it if you liked Fable I or III, but I like III much, much more.