I don't even know where to start praising you guys. Everything about this was such a huge step up from everything in Episode 1.
Music - Amazing. Austin Haynes is the boss.
Voice Acting - Very solid. I'll admit that it wasn't the GREATEST, but it didn't have me in disbelief very often.
Graphics - Incredible. Everything looked
so good in this episode.
Story - 10/10. It just keeps getting better and better. Simply put, it's original, creative, thoughtful, and interesting, and, most importantly, is leaving me dying for the next episode.
New locations - Simply fantastic. I liked them better than the locations from KQ6, to be honest. You guys really made this game your own.
New walking animation/Faster walk - Again, you guys really nailed it. It looks perfect.
New options - Again, another great idea from you guys to let players choose how they want to play the game. I enjoyed this game so much more with short narrations and no narrator audio (although I realize that was in the first episode).
New Puzzles: I can't tell you how happy I was that they were in here. And for those of you wondering, yes, there are lots of them, and yes, they're not too easy. Some of them are quite hard, in fact.
The Length: Much, much, much better. I'd say it took me around 6-7 hours. Partly because I was trying and enjoying each and every little thing, partly because some of the puzzles really had me that stumped.

Nitpicks:
Short narrations: Sometimes weren't so short. I'm not sure if that had to do with the narrations containing important information for the game, but I noticed a few when replaying Episode 1 that were fairly long.
Graham's new walk: Is perfect for his casual look in his adventurer's cap, but like I said, I replayed Episode 1 before I played Episode 2 and it looks a little weird in his King's Clothing because of how formal the clothing is. Maybe it's just me, I don't know.
But aside from that, I really, really, really, really, really, really enjoyed it. I'll admit, I had my doubts when Episode 1 first came out, but you guys really proved me wrong with this episode. So for all of you wondering whether or not this Episode has been worth the long wait: Trust me, it is.
Overall: It's not a great fan-made game; it's simply a great adventure game. Honestly, at this point in time, it's looking like it could easily surpass the quality of King's Quest VI by far. And that's not something you guys should take lightly; I'm generally a pretty harsh critic.