It is with no small amount of irony I point out that a few months ago I told you that the magical "Ella Enchanted" had been inspired by "Shrek," while I now have to tell you that "Shrek 2" was inspired not by the original, but by dollar signs.
"Shrek 2" has its moments and is reasonably funny (although with more groaners than I care for) but simply doesn't have the spark and wit of the original. Still, most comedies will pale compared to "Shrek," so here's a little warning: if you expect a clone of "Shrek," you won't find it. If you can accept an imitation, you'll enjoy.
[2009: I wasted $5.75 on "Shrek 3" in 2007. I won't make that mistake when "Shrek 4" and "Shrek 5" come out in the coming years. Seriously, Dreamworks has 4 and 5 in production right now.]