I'm a big fan of the old bioware games and RPGs in general, but DA2 is alright by me. DA2 is to DA:O what ME2 is to ME. They've simplified a lot of things that tend to get tedious, putting more focus on story and combat.
I find the combat to be tactical (I play on hard and PC). It's fast paced, yes, but you can still pause the game and give orders and if you enable "hold position" instead of "free move" then your party will do exactly as you say. In fact, the new stagger/brittle/confusion effects add an extra tactical element to hard battles. By using your team efficiently and complementing each others powers, it's possible to do some serious damage.
If consoles cannot enable auto attack and you have to mash buttons, then that sucks and you have my sympathy. It's straight forward on the PC though.
There are some things I really dislike, but that I accept. It's not an oblivion/morrowind/skyrim clone. You can't enter most doors. Crates are randomly spread out with loot for the grabbing. There is no way to become a better merchant, so your crap always sells for peanuts. Stupid little things like that. But it's ok, because I'm still having fun with the game and the story.
Some of the quests are retarded too. Like you randomly find an item and suddenly it's a side quest. You return it to its owner, or someone interested in it, and you get some xp and a bit of coin. Pointless filler stuff, but harmless.
The thing I disliked the MOST so far is that the game skipped ahead and apparently you've been doing stuff without actually doing it. Like a whole year is ripped from you as you're in service to one group or another. You'll encounter people talking to you, as if you know them, even though you -the player- didn't do anything. I find it irritating the game deprives you of these sequences. It could have been a boat load of fun actually engaging in all these quests that just happened automatically.
Oh and for some reason you didn't get experience for any of it. How lame is that?
I find the reuse of environments and set pieces in poor taste. Bioware is bigger than that. There is no reason they couldn't have all places be totally unique. The guys who made Nehrim managed to craft every single dungeon, cave, house, city and castle to be unique - and they did it in their spare time. Yes, some elements are reused, but not in an overtly obvious way. In DA2, it's painfully obvious at times. I'd wager that Nehrim is much larger than Dragon Age too, which just puts DA2 to shame. So far it was most obvious on Sundermount and the dungeons/caves there.
BUT, even with those negatives, the game still rocks

I'm having a lot of fun with it.
If I had only read the haters, I would probably have skipped on it, but I'm actually enjoying it. I started DA:O and played for a while but had to stop due to other commitments. If I finish DA2 I'll probably go back and play DA:O from start to finish this time, although it honestly might be hard going back to the slower more tedious combat.
One final note on combat, I absolutely love that you can avoid things by just running. Kudos! It makes it possible for a nimble player to get through really bad odds, even when all hope seems lost. Kiting also works beautifully and is a good way of dispatching a few enemies at a time.