Buggy, too short and not really enjoyable gameplay.
Graphics are more less fine. Of course, quite poor in comparison to some really comtemporary high-end games but good enough. I guess it would look much better on plasma TV watched from a bigger distance instead of HD LCD watched from closer distance.
Also I did not experience any lags like many others complaining (on 8 core dual xeon mac pro / 6 gb ram / radeon hd 5xxx / 1920x1200 FSAA) although several crashes did take place.
The very bad part of the game - it's bugs (or features).
Fights with bosses lock the camera in the way you can't normally control neither the hero nor camera. There is too much of fights with small and big bosses - thus it will soon become really a pain in the ass. That should've been fixed even in first part but no devs made the same mistake in part II.
Fights with bosses are mostly a reaction games - you have to fast click a random set of buttons in order to defeat the boss. This isn't just a pain in the ass - this is how you are going to broke your keyboard. And in most of times you will have to do the same over and over to pass further.
You won't have much fun fighting or smashing troopers or simple soldiers - there are not that many of them. Most of the time you will be playing described above reaction games over and over to fight a single boss or solving puzzles like moving and jumping somewhere. That is completely pointless and boring.
And of course it is too short.
If you are a fan - you will play it anyway. But beware - it won't give you even the same feeling SWTFU1 gave. Very soon you will realize all of that described above.