I'm currently playing through the first one and I feel the end is in sight, so I'm giving this some funny looks as a future purchase.

When I say "is this a good sequel" I mean is this the sort of sequel that takes the story and characters in interesting new directions (like Majora's Mask, Half-Life 2 and Mass Effect 2), or is it the kind of sequel that just shrugs and feels like a blatant cash-in (like Bioshock 2, Kane & Lynch 2 and Red Faction: Armageddon)?

Thanks in advance!

Hard to say. It isn't just a rehash of the first game, but depending on yourself, it will be worth it or a major disappointment. It isn't up to the first game at all, but I personally found it enjoyable. Sometimes we expect to much and very little matches our expectations. It is cheap, so you won't waste your money no matter what you think of it.

It's a ok to bad sequel depending on how much you love the first game. The main characters are replaced but the old cast do join up with you every now and then. But the two new mains are not that great. But yeah it feels more like a bioshock 2 type sequel then say a mass effect 2

Its pretty disconnected from what made Tales 1 great, but its certainly enjoyable to play, and some cool story things regarding the old cast.

I couldn't get behind the Pokemon mechanic.

I really didn't like Dawn of the New World as a sequel. It certainly doesn't feel like a blatant cash-in though. It just feels bad compared to the original Tales of Symphonia.

Ah I see... well thanks everyone for the help, I probably will pick it up once I've finished the original (and others). Only problem is the price of the PAL version of this sucker seems to have boomed over the last 6 months (£70 (~$105) for a two-year-old Wii game?!)

Don't waste your money. It has a fucking awful story and inferior game engine especially compared to Vesperia. Hell, I'd go as far as to say that Legendia's engine was better and that game wasn't good either. If you haven't played it already, spend your money on Tales of Vesperia. If you have a 3DS and haven't played it, get Tales of the Abyss. They're way better Tales options.

As far as sequels go, let's just say I feel stupid for having looked forward to this game over Vesperia.