It's basicly a re-hash.
From what I've heard and read, the game's basicly a re-hash of BN1.
Atomic-Fire has the scoop so if you want a more detailed account, check there.

baisicly, the game plays exactly like EXE1 up till the Elecman senario. Then there's the "side-story" of Star Force before you go right back to ending the game just like EXE1!!
Aside from some maps, so slight adjustments to stuff(like mugshots, battlechips, ect) and the multi-player Colosseum, it's basicly the same. Kind of a let down.

I still plan to buy it and see it for myself, but I'm kinda wondering what Capcom was thinking when they made this? I was expecting a bit more...