Predator 2 for me is sort of a guilty pleasure. I know it doesn't do much for the Predator story but I still can't help enjoying that movie on the whole. Predator 2 was for sure not the sequel I wanted to see to predator, but I like the movie for what it is in it's own right. You can't deny some of the awesome kill scenes in that movie too, someone else commented on the penthouse scene and yeah, that scene was awesome. I also liked the scene in the ship with all the different Preds popping up.
The way it is looking though, it seems like Predators will take the title of the definitive sequel to Predator, and that is fine and dandy with me, doesn't mean I have to toss my guilty Predator 2 pleasure aside.