I saw it yesterday and thought it was awesome. I realize that some people think it's unorignal or not as good as the first, but the faults, while they do exist, are overshadowed by the rest of the film which kicked ass.
spoilers ahead:
It follows, more or less, the same basic formula as the first, namely: a day in the life of Dante and Randall and all the wierd **** that happens, ending in an arguement/rant about the direction their lives are taking. Personally, I don't fault Kevin Smith (or anyone) for these types of rants, since they're what I enjoy the most. I guess you could accuse Clerks 2 of being more sentimental and touchy-feely than the sarcasm of Clerks 1 and Smith's other movies, but it didn't come off as particularly fake or stupid. It's the kind of sentimentality which makes you feel good, without being cliched. Or maybe it was cliched, but the characters are so likeable that you do genuinely get invested in their lives. The only fault is that Dante/Randall/Jay/Silent Bob all act in ways which you're used to, and it's not as witty/funny the second time around. This would have been a bigger problem had the rest of the movie not been as good, but as it stands I didn't mind it too much. Also, look for a very unexpected and Blues Brothers-esque dance number in there.
Worth seeing for anyone who liked the original Clerks, and I'm assuming that's everyone.