First view, not great but destined to be a cult classic of my generation, for the cast alone, as it was meant to be.

Rating: 7/10 (27 August 2012)

To sum up my experience with the movies I & II, I had no clue about I but for that I am a knife collector, and saw the knife in a catalog, then I looked up the movie. I was floored by the cast, and by that time, they were making this one, II. I waited in great expectation, and was even more floored by the cast. Every icon of action of my generation, it is unreal.
There's an up and a down, of course. Every hero (or anti-hero) has his lines, but there is no STAR. Which is perfect, and intentional. Every nuance of the movie is a serious back-take to the roles that were, yet set in a fun "let's have a beer and watch" setting.
There are no lines to be saved from this one, just very good chuckles at the cross-reference lines they make to each other both in and out of character. (As in, to each other's actor's previous movies).
It's not filmed as nicely or cohesively as the previous I movie, but the special effects certainly were what was wanted by this audience. CGI or not, but I suppose that's really what shooting people really looks like. I imagine somebody next will say, "It will better in III if they have zombies!"
All and all, I'd rate this as not a classic, but a cult classic to be, along the lines of Highlander and The Crow. To compare it to a TV show, it would have to be a classic, because of the cast that you're "used to", like MASH or Star Trek.
I rated it a 7 for it's filming/continuity. I'd really give it an 8 if your a fan of the genre, and a 9 if your a geek like me.