This is pretty much a long string of vignettes rather than a coherent story told in motion picture. There’s enough there that someone who hadn’t read the book could read between the lines and infer what’s in the gaps without undue effort, but it feels distinctly choppy in places.
I found the direction pretty heavy-handed: there was little subtlety on offer.
Despite these niggling complaints, I think that once again, this movie more-or-less brings the magic of the books to life, in an entertaining spectacular. Also, I found that a lot of the little things which irritated me in the books were elided: the universal epithet “Looney” for Luna, the little angst moments explored in detail in text, etc etc. They also fixed up the scene were you-know-what happens: the movie version was far more plausible in detail than the book version.
Overall: Good. Very good. One way or another, I enjoyed this movie a lot more than the previous one.