Nowhere near as good as the original but not all that bad. The comedy bits fall flat but the music is great.
What is disappointing though is that the film could very easily have been much better if the writers had decided to just rehash the first film. Sure it would be the complete opposite of being original but it stil would have been pretty entertaining. Instead of getting the band back together for no apparent reason, the orphanage could have been in need of financial aide again. One of the Blues Brothers could have had a homocidal ex-fiancee after him, etc. It would have made for a much better film and (seemingly, at least) much easier to write.