I'll be brief: you are in for a real stinker when you've noticed the sequel has recycled stock footage from the first film because the original imagination and production value was so high (think Atreyu riding on his white horse, which has magically came back to life in part II). Yes, cutaways and transitions from the first movie were dropped into the second film and that's about ALL the second movie had to do with the first. Even Falcor's eyeballs in the second movie were the wrong color - a weird blood red color. None of the original voice over actors or cast returned and barely any of the same crew returned for part II. As a child, I was really excited for the sequel and remember that I went to see it opening weekend at the theater with friends. As an adult, I went back to re-watch part II and now recall why I forgot so much - it sucked so bad that I purposefully removed it from my brain bank. The script to part II, a film's blueprint, was an epic fail from the first page to the last. No special effects or superb acting could save this thing. I gave it two stars instead of one because, for a brief moment in the closing credits, the production included a short clip of the original Neverending Story theme song.
