Basic: If you liked Marvel Ultimate Alliance, you'll like this sequel even more.
Graphically: Similar to first, but improved. The environments look a lot better and the character interactions aren't too bad. It's a RPG so you're stuck with a certain viewpoint at times, but you do control how close/far you are from your four characters for the most part.
Bugs: They're working on some problems. One was joining an online game and the hangups. There are some glitches on some of the missions, but I've found if you exit and reload the game save, it'll fix itself. One in particular was a boss battle and you have to eliminate the surrounding enemies before you can damage the boss (rinse, repeat), but one of my characters knocked one of the guards off the edge, preventing me from causing any harm to him.
Gameplay: The added fusions are lots of fun and the character abilities are close to what I would expect them to be able to do. The different fusions in the game are definitely where it is at, tons of different interactions between the list of characters. There are some similarities when using like characters, but for the most part there are three basic fusions (guided, targeted, clearing) and depending upon which heroes you have and who you're trying to initiate the Fusion with, you might be limited to what fusions you can do.
The missions aren't too bad, and I think the best part of the game is choosing sides and having different bosses through a section of the game. I'd recommend playing through twice, once on regular/hard difficulty through either Pro or Anti-Reg, and another time through the other on Legendary difficulty.
Sounds/Voices: for the most part the voice-acting was really well done. Most of the characters sound like they should. And a lot of the familiar marvel sounds are there.
Online/MP: as mentioned, the online can be problematic, but it is more fun to play through the scenarios with a co-op buddy (on or offline). Especially since the AI doesn't do the best of jobs of managing your non-human controlled allies.
Recommend?: Yes and No. Great for Marvel fans and RPGers. If you liked MUA, XMen Legends, etc., you'll like MUA2. The DLC is kind of pricey however (it's cool that they added Carnage, Psylocke, Magneto, and Cable tho!). The Juggernaut is fun to use, but is only available separately. If you have a friend that has the game and the character, just join their game to try out the Juggernaut (there are free patches to allow for Co-op members to share DLC while online, but once you quit, you'll be back to your standard team list). The game takes some time to get through considering it has a bunch of simulator challenges, hidden conversations, hidden collectibles, and 2 different playthroughs, but after that you're done.