I may be in the minority, but I do enjoy AVPR. Do I rank it among the top of the movies from the Pred and Alien franchise? No, of course not, but I think it has a lot of cool stuff going on.
The dark atmosphere, the grit and blood are very cool and add dark urgency that we never had in the first film ... APR just feels more authentic in that regard. I also have to admit, I'm a big Pred fanboy so I'm partial to him and I think the AVPR Pred is one of the coolest Preds we've ever seen and miles better than those clunky looking Preds in the first AVP film.
I also really enjoyed the fight scenes, the action between the creatures alot more ... I just think the movie had a lot more moments to offer that paid homage to the original Alien and Pred movies and gave us what we wanted.
Of course, the bad point of the movie, just as with AVP and most horror or sci-fi movies today is that ... the actors and the characters they portrayed just absolutely blew ... just awful, awful stuff. If they do another Alien, Pred or AVP movie, they better just make sure they write GOOD human characters that are interesting and also get GOOD actors to play them ... If they do that, 80% of the battle is won.
All in all, I don't think either AVP film can hold a candle to the old school Pred or Alien films, but I enjoyed both and I did enjoy AVPR alot more than the first AVP, by a significant margin too.