Is Pink Panther 2 as good as Pink Panther 1???

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I really loved Pink Panther when I saw it 3 years back... Steve Martin as Inspector Clouseau was really incredible in that movie!! One of the best comedies I have ever seen.. I am yet to watch the sequel of the movie and I am a lil curious to know how it has turned up? Heard people saying that it stands no chance before its first movie.. Just wanted a wider opinion.