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I had a really long reply typed up, but was going to add more later, so I come back, submit, and it says please press back and reload.
Well I didn't play a ton of Red Steel so it's hard to compare 2 to the original, but it was almost definitely improved gameplay. Not sure it was quite there yet though. I dunno, it's hard to say, and granted I was mostly just fighting the same enemies, ninjas in armor. I assume the controls were pretty similar, swing the remote to use the sword and press b to shoot your pistol. It was kind of cool how you had to break the ninja's armor before you could damage him, and to do that you had to perform a strong vertical swipe, so it could differentiate between strong and quick attacks. I'll be more inclined to get it if it comes bundled with MotionPlus (which I think I heard it will be) as I am really against buying MotionPlus on it's own.