BS2 improves a ton in gameplay, but more importantly in pacing. Instead of starting off steadily and peaking at the middle, then going waaaaaay downhill in the final act like BS1, it starts off strong, goes into a dip towards the middle, then shoots back up towards the end. The final section really is awesome, but I don't know if I would call it better than Fort Frolic...
Definitely a game worth playing.