I'm just going to straight out say that Mass Effect 2 is one of the best games I've ever played. The graphics are gorgeous, the combat is flawless, the story is interesting, and the characters are insanely complicated. The thing I find funny reading the comments here is that the things you guys are complaining about (the lack of Mako, the consolidation of armor and skills, the new exploration system, regenerating health, ammo) is that most of these things I find an improvement over the first.
Don't get me wrong, I loved the first one but Mako was annoying as piss to drive and nine times out of ten the exploration was just some bullshit base with some dudes in it that I killed and walked away. And also, in case you didn't notice, in Mass Effect 2 there IS some exploration where you can find "anomalies" on the planets and go down and investigate them on foot.
The problem with Mass Effect 1 was the repetition. Everything was exactly the same. All the quests felt the same, all the choices were extremely uninteresting to me. But in Mass Effect 2 they did the incredible and made the game feel varied and never boring. None of the quests feel similar in anyway. The characters are interesting, much more so then ME1's. The combat felt more active and in your face. I loved the choices in the game and the renegade/paragon quick-time-events.
And besides that, the story WAS interesting to me. It had twists I did not expect and seems to be building up to something even better. I can't help but get this feeling that Mass Effect 3 will quite possibly be the most epic game we will ever see.
Say what you will at its faults, but this game was glorious. Finishing it only made me want more.