Saw it last night.
Saw this last night at the Mill Valley Film Festival and absolutely loved it! Larry managed to make a great sequel to a great film without losing any of the charm of the original film. My only criticism is that the second half of the film did get a bit slow and there were several repeated jokes that were unnecessary. I noticed that the audience would laugh at the first occurrence of a joke but not even chuckle the next time around. Maybe Larry will notice this and cut the film down. In my opinion this film could have been 75 minutes and still be just as funny.
I had the honor of sitting one row behind nearly the entire cast of the film and stuck around to watch an awesome Q&A by Larry Blamire himself. It was quite an experience seeing all these people in one place, and getting to hear them laugh at their own scenes! What an awesome evening.