vegas 2 is a world beyond vegas 1.
A few things that vegas 1 had wrong:
*No widescreen support.
*Excessive motion blur/blurring - caused lower FPS, and made the game look horrible
*Terrible performance on anything less than an 8800GT, we couldnt even lan the game without modding it.
*Quite plain, it wasnt innovative as a game.
Thankfully those are all fixed in #2 - you can even customise the looks of your character, and the coop mode (while locked to 2 players) has had a LOT more thought put into it. The inbuilt voice chat is perfect for a 2 player coop game, i just finished the game on casual today via that method.