The first film just didn't seem like Sherlock Holmes to me. The second has some of the pacing issues of the first, but won me back with the ending.
Spoiler warning...
If you're a fan of Arthur Conan Doyle, you probably knew how it would end before it happened. If not, see the film and then read Doyle's short story "The Final Problem." Specifically, look at the end of the story, and then compare it to what Watson types near the end of the film. I found that to be a nice touch.
