Ip Man 2 (叶问 2) continues from Ip Man 1 after Ip Man escaped from Fatt Shan to Hong Kong. To earn a living, Ip Man decided to teach Wing Chun. From there he found out that opening a school to teach wushu in Hong Kong at that time is not as easy as it's look.
While Ip Man 2 has it's nice action and fighting scene choreographed by Sammo Hung whom also act as Master Hung in Ip Man 2 (he's the leader of the martial art community in Hong Kong). There's two fighting scenes that I like the most is the scene in the market and the one where Ip Man fighting Master Hung.
There are more inner heart acting in Ip Man 2 as compared to Ip Man 1. News has it that Donnie Yen won't be making Ip Man 3 because there will not be any Ip Man 3. He thinks that the story has already been told enough and there's nothing more can be told in Ip Man's life that are worthy to be made into a movie.
Well, if you are really is a super fan of Ip Man, maybe you can buy the Ip Man's Prologue (葉問前傳) comic by King Comics (玉皇朝漫画) coming out next week or wait for Wong Kar Wai's The Grand Master (一代宗师) planned to release in 2010 (which the story base on Ip Man too) starring Tony Leung Chiu Wai and Zhang Ziyi. Good luck waiting for it though :p
Also, for those of you that will like to learn Wing Chun style of martial art in Kuala Lumpur or Petaling Jaya, Malaysia. You might want to visit Yip Kin Wing Chun, from what I read the monthly fee is only RM 80 per month and classes are conducted in different days in different location. You can also read more about the history of Grand Master Yip Kin (not related to Ip Man by the way) and Grand Master Yip Fook Choy (Grand Son of GrandMaster Yip Kin).