rented this thru Comcast ondemand(I had a coupon for a free rental). It obviously isn't blu ray quality but there was a lot of pop out. It's been a year or so since I watched part one but I was huge fan of that movie for pop out. Worth it a watch for the effects. The story line is 100 percent geared toward kids nothing to even remotely keep adults entertained but visually very stunning.
I finished watching this last night, and to me, it is as good as the first one as far as the 3D quality and effects. Like you pointed out, very much a kids story, but enjoyable. I had pre-ordered this from amazon and wasn't disappointed!