On one hand, I can see where you're coming from. Sequels are hard to do, and it's probably not the easiest thing in the world to pick up somebody else's vision and run with it. But on the other hand, conventional wisdom suggests that "if it ain't broke, don't fix it" leads to creators attempting to repeat a known process that has worked once before. And that in turn produces uninspiring sequels. Having fresh blood with different perspectives has the potential to inject uniqueness into the sequel.
I think combat is going to be a matter of personal preference. I liked the combat--it wasn't intrusive enough to distract from the storyline, didn't confuse me enough to throw the controller across the room and quit, and didn't require me to be double-jointed, ambidextrous, and have six fingers on each hand. But I am easily intimidated by console combat, so your mileage may vary.
Well, there is that whole element of generating a profit, and munchkins have lots of disposable income. :D Although I would like to see a quest that you could succeed at either as a Force-user or not. It would be a challenge to write such an epic level campaign, to create success paths that could be achieved without the use of Force powers, but would require them if your PC were a Force user.
KOTOR was the first CRPG I played since playing Infocomm text-based computer RPGs on an Apple II+ back in the Dark Ages when dirt was new, so I may be an easy customer to please. But I'm willing to give Obsidian the benefit of the doubt, if not my outright enthusiastic support. Because while they have a tough act to follow from the first game, they also have a model for success, and the resources to discover what worked and what needs improvement. All they need to do is use their resources wisely.