I saw it opening night and I have very mixed feelings about it. It was exciting for most of it. The thing that really worked about the first movie was it's simplicity. This movie tries to do so many things at once and some of them work really well and some of them fail completely. So many of the threads it set up in the first act just fall to the wayside. The actor playing Rama was asked to actually act a hell of a lot more in this one, and I just don't think he was up to the task. In fact Rama's whole storyline was the least interesting part of the movie. He spends so much of the movie just drifting into the background and he's completely overshadowed by his far more talented costars. The gangster and his son, in particular, are really really strong and I think you could have made a pretty great movie out of just their subplot. In fact this movie kind of feels like 2 movies and a couple of short films all thrown together. It all feels incredibly unfocused. If all you care about is fights, there are plenty of them and they're very well done. But fights are only exciting if you care who wins. By the end of it's 2.5 hour run time, I really didn't care what happened to anyone.
I have to say I enjoyed this movie for the most part. The action is top notch, the cast is likable, and the camera work is gorgeous. It's far more ambitious than in predecessor, unfortunately I think it's reach exceeds it's grasp in some key areas.