Released with little fanfare a couple of weeks ago, this is the first review of Dawn of Magic 2 we've seen.  Games32 isn't impressed straight out of the gate, for an ultimate score of 64%.  An early quote:

From the beginning you get the feeling that this won't be a joy ride, as we are forced to choose one of four insanely silly characters, to level up and defeat the evil monsters. It's been an excruciating ordeal to decide between a Harry Potter cheap rip-off named Awkward Student, a Fat Friar, the Weird Gyspy and a grim joke called the Baker's Wife. Despite my visceral loathe for the wizard kid, the alternative was simply abysmal, so I had to go with the goofy bookworm that the Awkward Student stands for.

These wretched characters are a far cry from any hero you'd expect to find in a quality RPG, but this is just a taste of the complete lack of imagination that plagues Dawn of Magic 2. The storyline is twisted and unappealing, slowly sinking into near irrelevance as you progress with the campaign and in conjunction with the dreadful characters, renders the entire adventure boring and uninspiring. The action takes place ten years after the main villain Modo was destroyed and now your mission is merely revolving around cleaning the world of his minions.

Dawn of Magic 2 has hit Steam and should also be available at retail in Europe, at least.