Ultimate Avengers 2 picks right up where the first movie left off. Again, It's simply a brilliant rendition of Marvel's (and Earth's) Mightiest Heroes. What surprised me is the fact that this second film establishes the characters better and has substantial character development. I know that sounds strange when describing a cartoon but these characters really shine this time around.
Like with the first film, I've read different reactions and I've heard from both sides of the adaptation debate. Some serious Ultimates fans wanted this movie to be an exact reenactment of the comic book. Marvel instead made a conscious decision to infuse the old school Avengers in to the Ultimates mix. It's still a good call and a masterful decision. The combination works very well. Gone are the overblown and, quite frankly, juvenile elements of the Ultimates. Having a horny Hulk or an outrageously abusive Henry Pym may work to capture the teenage comic crowd (which is exactly why the Ultimate Universe was created) but it doesn't play with main stream audiences. The ONLY reason the Ultimates succeeded as a book is because of the incredible artwork of Bryan Hitch (which is on ample display in the Ultimates bonus featurette). The characters that made the Ultimates possible in the first place shines through. Captain America is still perfect. You can really see why Marvel is lining up to give him his own live action movie. The introduction of the Black Panther is perfect as well. Iron Man steals the show and his shift to War Machine armor will have long time fans grinning from ear to ear. My only two problems were with the treatment of Henry Pym and the lack of substantial Hulk action (Hulk does smash but not near enough) but those are just minor quibbles. Overall, this is a wonderful movie.
PS- I can't wait for the Iron Man solo movie they previewed on the DVD. The jury is still out on Dr. Strange, however.