Let me start of by saying: this is a totally different film to the first.

The original, The Fable, was action packed throughout, had some really funny moments, cool characters and ended, not just making me want a sequel, but hinting that there would definitely be one.
To my surprise, this sequel had almost a totally different tone, didn't deliver on the hinted at tale to come, yet still delivered a very good story... with the bonus of one of the best action scenes I've seen in years!

I don't want to overly compare the two films after stating that they're very, very different, but I only watched this because of the first; that said, although - aside from the above mentioned scene - this didn't live up to my expectations, it was a damn good film and I'd recommend it.
Just don't go in hoping for more of the first of even expecting this to be closure.

I'm really looking forward to the third film!