I had a blast watching this film. Seeing the old crew back and doing their thing? I'd have bought this film sight unseen, but I got the chance to rent it, loved it, and bought the Multi-format release. Is it as good as their first outing? Well, that depends on how you feel about sequels, and what you thought of the first film. It's also a matter of taste, because I loved it, but there are others who may not have enjoyed it quite so much.
One of the risks of making a sequel to a cult classic that was released 15-20 years ago (I'm looking at you Dumb and Dumber Too), is that you lose some of the fire of the original. The actors are almost two decades older, the frame of reference isn't quite as secure as it once was (what was funny in 1994 and 2002 may not be funny 20 years later), and it can seem desperate. I'm sure there are people who feel this happened here, and while I won't say they're wrong (some moments in the film seem a bit strained because of that), I still thoroughly enjoyed the movie.
The jokes, the pratfalls, the gags, the absurdly gross moments, it all works for me, and I loved it. To me, it was like the guys never really left, and I figure if you *did* enjoy the first film, please give this one a chance. I think you'll find it deserves at least that much.
Meow you have a nice day.