I don't think you'll be angry you spent the time playing it, but it's just not a "better-than-the-first" kind of experience. It is repetitive, and there's not enough of the new. And that payoff your hoping for? Kind of.
It's just got so much that doesn't fit together. If you give me a Pirates of the Caribbean level, I want it to matter. And yeah, the Hundred Acre Wood is EXACTLY the same as the first game. As it stands, Pirates can be completely excised and it would literally not affect the game whatsoever. And the aforementioned Maleficent and Pete thing. It's a fun game, but I wish I could take all of the great (the updated look and controls) and just stick it back into the original. I hope the third one is better, if unwanted. I'll certainly play it.
The stuff that needed discussing from me:
The triangle button and commands. Love this stuff. The double menu needs to go, though. Get rid of some options if you have to, 'cause I'm sick of Forming when I meant to Summon.
The Journal: I can't complain about too much in here, but it certainly had me bewildered and confused for a while. Some of the completion requirements are a little ridiculous (30-45 of EVERY KIND OF MATERIAL??), but you can't whine about something being too comprehensive, much like DVD's.
[Sephiroth]: Still haven't beat him. He makes me so angry, and that's why I love him.
[The Dragon during the final battle]: Horrendous. It's not good when I'm mad because I'm so bored during a boss fight.