First, I spent endless hours playing the first Mass Effect, and I did the whole thing of importing both a Paragon Shepard and Renegade Shepard. 

I've played through Mass Effect 2 twice and I am a bit underwhelmed.

These are my complaints -

1. Very linear and very short mission structure, there isn't much mystery or strategy to this game, basically go on mission, walk through some hallways, kill bad guys, return to ship. I really thought ME2 would expand on the ideas introduced in ME, instead of innovating Bioware decided to streamline.

2. Game is short, unless you want to scan every planet for minerals, which isn't necessary, I was shocked when the game ended, I thought I was about to open up a new part of the universe to explore, but no, that was the end. The final battle is lame too. 

3. Planet scanning, ME2 is a fun game to play, but Bioware managed to incorporate the most un-fun thing possible to balance this, if you want upgrades be prepared for endless, mindless hours of planet scanning. Gone are the days of using your Mako to explore new worlds and complete side quests, now in its place is the worst idea to ever enter a video game, planet scanning, thank you Bioware.

Its a good game, its fun to play, but it's not the groundbreaking title that the first Mass Effect was. Innovation has been replaced by simplicity and polish. Parts of it are excellent and parts of it are terrible, the graphics are pretty good overall, but my final opinion is that ME2 is overrated.

Anyone else agree, disagree?

You raise some valid points and i definitely agree. But then again i have to look at it and realize every single time ive gotten hyped for a sequel of one of my favorite IP's im ALWAYS underwhelmed but mass effect didnt do too bad in my book. Great story and graphics and gunplay so i can overlook the other problems i thought it had

1. Although I agree it feels more linear, I disagree on the reasons.  The only Mass Effect 2 really did to make it more linear is make you play through story missions at various points, but that also helps keep the pacing of the game.  In the end, the game really is just as linear as Mass Effect.
2. I'm 16 hours into it and still have two characters to unlock and have only done three loyalty missions with minimal planet scanning.  I'm not upset at the length of the game.
3. I actually like planet scanning, but I'm also a nerd.  If you don't want to do it and don't think the reward is worth it, don't do it.  Simple concept.

I've yet to actually experience anything terrible and only really have minor complaints about the HUD and the fact the world feels smaller (even though it isn't).  Just about all the streamlining stuff they did was very clever and very smart and made it a better game.

-edit-

Actually, it's funny you list those things because those three things are not what made Mass Effect good and I doubt it's what makes Mass Effect 2 good (I haven't beaten ME2 yet so can't say for sure).

The game is just as linear as the first one but that isn't what's important, what is important is the choices you make.

Length of the game doesn't matter as long as you have fun.  

Planet scanning is in no way at all required.

I wouldn't give it a 96+ like meta, but I'd give it a 89-90, it's a good game. I really didn't like the way the cover works with the control that you are given, otherwise very solid.

the 1st one is highly overrated as well, so...

I think is a good game but not the best this generation overrated well is not halo lol

overrated yes but by no means a bad game.

I disagree with the OP.

The part I thought was terrible was replacing exploring planets with your Mako to planet scanning. You're right though, the game is a lot of fun, i just expected Bioware to expand upon what was introduced in ME.

It easily deserves the scores its getting......I disagree with the op.

I want to say something else but it will probably derail this thread but everyone is thinking about it when reading this thread.