It's better than before, but there's still a loooooong way to go. There are certainly a few things that have been fixed up as far as presentation goes. The browser seems to load pages a bit faster, and comes packed with a more attractive interface, complete with cute little cartoon-style buttons.
Pages seem to be formatted a bit better as well - just a bit, though.
In particular, loading times for pages is still longer than a PC owner would expect of a 56K modem, and the increased text size still screws up page formating. Some of the problems from the original have yet to be fixed, unfortunately. With the original, I tried to enter a message to a message board somewhere on the web and accidentally entered the wrong password. After being told that the password was wrong, I clicked the back button in order to correct the password, only to find that the entire text of my message had disappeared. Same deal with the version 2.0 browser, complete with the missing text.