Overrated.
I'll be blunt here. IMO, aside from the MGS parody and a small spattering of authentically funny jokes, the Decline of Video Games 2 doesn't belong anywhere near the top of the portal listings. The animation is stiff yet adequate for it's purpose, the voice acting is generally horrible, the soundtrack was only so-so, and the cheese factor was in the triple digets (though I'm assuming that was the intention)...
Basically, most of the jokes seemed forced and uninspired, and humor is one of the main qualities I look for in Flash films like this one. The best part was the short South Park FFX scene, and unfortunately, it was just that... short. It's no secret that I've never been a big fan of this series, but come on, I'm just not seeing what everyone else is...