Good but theres a few problems.
There were a couple problems with the game that kept it from being better than the first.
1. Punch/Kick combos are seemingly useless. That recoil effect enemies have when hit prevent any punch/kick strings from connecting making them pointless. This is especially annoying against the enemies that hold bombs. They just blow up during your combo since it doesn't connect fully.
2. You can't crouch and shoot anymore. What's up with that?
3. Arcade mode is significantly harder this time (to the point of being frustrating) because some of the really tough enemies can spawn immediately (starting off against 2 cannons and a bomb guy wasn't cool at all).
4. When you use the again option for arcade mode your ammo count doesn't reset. That's probably a glitch.
5. The guns are a lot simpler (and more boring) than the first game. They all shoot like the default handgun with different bullets. Same deal with the sword weapons.
6. Personally I liked the zoomed out view from Rage 1 better than the zoomed in view this one has.
This was potentially way better than the first one but it fell short due to a few very annoying problems. Don't get me wrong though I still think this game is great it just needs tweaking.