I just finished reading this anthology, edited by Mike Resnick. I thought it was about on par with the first as far as overall quality: I thought there were fewer wonderful high points, but there were also fewer complete misses (and those weren't, as in This Is My Funniest, placed in the first few slots). I was very puzzled by one story ("The Acid Test" by Kay Kenyon) that I couldn't see as humor at all. While there were a few amusing turns of phrase, that didn't change the fact that the overall story depressed and saddened me.
I also noticed an unusually high percentage of western spoofs, make of that what you will.
One flaw I noticed that occurred in several stories was pacing. Many of the stories had a detailed, involved set-up with plenty of color and humor ... only to wrap up quickly in a couple pages. I suppose this in part because, in comedic stories, there's an urge to explore the weird goings-on at the fringe of the story - but I did find it interesting how frequently this showed up in the anthology.
Overall, though, I love a good humor story and I enjoyed the anthology very much. There are many delightful concepts and turns of phrase throughout, often in the same story. I continue to get the impression that Mike Resnick really knows how to put together an anthology to create a flow. (The aforementioned issue with This Is My Funniest notwithstanding.)