Totally and utterly near flawless :)
To start they have updated and listen to fan criticism to minor issues like the elevator and the mako. I cannot say enough to how awesome this game is. The cover system was totally redesigned and actually works incredibly well this time around. Using your squad in battles also is well done and easy to use. The AI is pretty smart most of the time and I notice it reflects the personality of the player. Certain characters are gungho and will launch themselves into battle and will not always listen to you if they think its not in their best interest.
The story up this point is amazing, and totally continues on from the first one. I love the fact of some minor things you did in part 1 are updated in part 2. You get to see the results of your actions in small and some times bigger ways.
The DLC network cerebus is a great way to get new content and help them combat piracy. The free content has been not so much as amazing but satisfying. Especially the visit to the Normandy crash site. I look forward to what they have in-store for the future. They have stated that they plan to fully support this game with extra content.
I feel overall this game lives up to the hype and is well worth the wait. I am totally excited for the end of the trilogy to figure out what happens next. Recommended to all that loved the first and to those that like 3rd person shooters. It incorporates those elements well.