I've never even heard of part 1. Anyways this movie looks like it's gonna be good. Im all for over-stylized action sequences, escpecially if they look like some "300" ish. Here is a little more info on the movie...
"The Storm Warriors (traditional Chinese: 風雲II; simplified Chinese: 风云II) is an upcoming 2009 Hong Kong martial arts fantasy film produced and directed by The Pang Brothers. It is a sequel to the 1998 film The Storm Riders, both of which are based on the manhua Fung Wan by Ma Wing-Shing. The Storm Warriors is also known by its English-language working title, The Storm Riders II, a title that was changed in order to avoid copyright disputes.
Ekin Cheng and Aaron Kwok respectively reprise their roles as Wind and Cloud, who this time find themselves up against Lord Godless (Simon Yam), a ruthless Japanese warlord who intends on invading China.
For the film, the Pangs were inspired by Fung Wan's popular Japanese Invasion story arc The Death Battle. The Storm Warriors was shot primarily in Bangkok, Thailand, and marks the first Chinese film to be shot in bluescreen and on custom-made sets. The film is expected to be released in Hong Kong on 17 December 2009."