Better than the original but has its problems
Just re-watched Parts 1 and 2 again and I do think that Part 2 was the better film. I do think it has its fair share of problems though. The original just had a lot of boring parts. The deaths were few and far between, and the characters weren't nearly as memorable as the films that came after it. Not saying the first film is bad, not at all, but it's probably the worst out of the first four in my opinion.
Part 2 would be neck and neck with the Final Chapter, but...I think the film focuses way too much time on the beginning with Alice, and spends too much time setting up the large amount of characters, most of which we don't even see after the first counselor scene anyway. We also have the cop scenes which take up some time. By the time we get to the "kill night" portion of the film, the deaths happen way too fast...I mean, I think everyone dies in the span of less than 10 minutes. I like how in Parts 3 and 4, people in the main group die and the other shave no idea yet they keep hanging out and stuff...that's what I like. People got killed off in the background while the rest of the crew remained oblivious. In Part 2 everyone kind of does their own thing at the same time which causes them all to be killed off rather quickly. I just think the movie suffers from terrible pacing. By the time it gets to night time, it feels like they're doing a rushed version of a Friday movie, that's how fast it goes. The only thing to break it up is the bar scene which is great by the way, but I just hate how everything happens so fast. I like the partying aspect of the Friday films, but this one kind of tries to do too much in such a short film, so it ends up being a bit of a mess.
I still think it's one of the better films, definitely top 5, maybe even top 3, and better than the original, but I just hate the pacing issues. I think the film suffers from having too big a cast of main kids, so we don't really get to see too much of any of them. The film doesn't give itself any time to breathe. I do love the characters though, this group of kids is one of the best in the franchise, and it also has some of the hottest women. It's just a shame we didn't get to see more of these characters.