I remember seeing this movie as a kid. I loved it at the time and probably even said it was better than the original. In fact a few weeks ago when I posted Home Alone 1 I immediately had a few people tell me that they prefer the sequel. While I love this movie, it's not as good as the original.
It's a fun and I laugh but it does something I hate that sequels do frequently. It's basically a carbon copy note for note of the original film. What bothers me is simply that while there are touching moments; those moments don't hit me on the same emotional level as Kevin's conversation with his neighbor Marley.
That being said the funhouse of boobie traps in this sequel is much better and more crazy. Regardless of all that, it's still a christmas classic.