I didn't like this game as much as the first game, but it was still pretty fun. Very different experiences. The first game was a tactics game, but the sequel opted to be a more general turn-based game.
Pros

• It was nice to see the world, puppets, and characters again after the events of the first game.
• It's silly and whimsical, but there are some things with the story and characters seem like they were ahead of their time.
• Dungeon designs are a lot more streamlined.

• Money and MP being a shared resource is a pain in the butt. Sucks having to choose between buying equips or getting to cast more spells.
• Insanely high encounter rate.
• A lot of the characters and story events feel like they are made as a direct reference to the first game rather than standing on its own merit.
• Kururu is the most unlikeable character in the game, which is rough since she's the main character. She's 12, so we'll cut her some slack, but she is less likeable than Cornet.
• Wish they did English versions of the musicals.
• Not as bad as the first game, but a lot of reused assets and identical looking hallways for dungeons.
• The puppets are a lot more de-emphasized in this game, which is a shame because the puppets and fulfilling their dreams was such a big part of the first game.
• The first 8 acts feel like a prologue. I hated it when FF4: The After Years did it, I have to call this game out for doing it too.