Kill Bill v. 2 is much different than the first. It is a completely different kind of movie. It's good, but it's mainly dialogue. So, if you like Tarantino dialogue, you're in for a treat. Otherwise, you might just find it to be OK.
Think of the movies this way:
Kill Bill Vol. 1 - Eastern influence (think bloody Japanese/Chinese movies and anime)
Kill Bill Vol. 2 - Western influence (slow, more dialogue than action; think Sergio Leone movies)
It will be interesting to see how he fuses the two movies together. I'm almost positive he edited the movies into two by the influences above. It will be interesting to see if he goes the Pulp Fiction route of jumping linearity (like the Kill Bills currently do) or if he re-edits the films into a linear pattern.