I think it topped the first one
It had all the raunchiness and great humor of the first but without the things that made it drag, like Ritter and Bernie Mac talking about the Santa's behavior, or Bernie Mac catching a shop-lifter in his store, which went nowhere.
Sure, the scenes involving Christina Hendricks' husband and the security guard were a little flat, but everything else just clicked along. Thornton was right to wait this long for a script worthy of the first BS, and he found it.