Rented this sequel last light and found it every bit as funny as the original. You're paying to see Rowan Atkinson do his masterful physical clowning, and in this he's as good as Pete Sellars ever was, dare I say, maybe better in some respects.
A satire of Bond movie tropes, it hits all the right notes and while the plot is by definition predictable and rote, the execution is creative enough to feel fresh. Pains were taken in the darned good sound track and art direction and cinematography to give you the feeling it's a real Brosnan/Dalton-era Bond film - that just happens to have collided with Police Squad.
Atkinson really is just brilliant at being funny even just standing still or sitting down.
I haven't seen a Rowan Atkinson film in years, but I did used to like Mr. Bean when I was a kid. I watched Hot Shots Part Deux a couple weeks ago after not seeing it for a long time, and I didn't realize he had a small, funny role in it. "I can't walk, my shoelaces are tied together".
Bean goes on vacation is a masterpiece, the beach ending just about makes you weep, without a word of dialog, and watching Atkinson is like watching Chaplin at the height of his powers. Atkinson is the dual-threat actor who is gifted usng his body physically as an instrument, and he also has a Swiss watch sense of comic timing for dialog, as well as improv. Casual viewers may not immediately notice just how damn good he really IS.