While I don't disagree with the above points, I'm more tolerant of sequels than a lot of people are. Occasionally sequels are a bit of a guilty pleasure of mine, but I've always been a fan of the serial format and watching story/character arcs unfold across multiple installments.

Indeed. One of the many reasons I love TLBT is we have fourteen films of character development and stories.
Same here. Even terrible sequels have their moments, even if they're few and far between.
Exactly, at first I disliked VII, but it gave us Spike’s first word, Rainbowfaces, and Pterosaurs other than Petrie and his family.
When I first read that, I thought you were saying "rainbowfaces" was Spike's first word!

Come to think of it, though, I guess VII gave us the closest we'll ever get to a complete sentence from Spike. "Err you hun-hun?" ("Are you hungry?")

Getting back on topic, I definitely have a soft spot for LBT II.

Chomper, Strut, and Ozzy all made this movie entertaining and endearing, one of the more charming sequels. There wasn't a song I disliked in it, either--in fact, most of them were among my favorites of the whole series.