I thought it was alright, but lost much of the charm of the original. We either got jokes/references that we've already heard before, or we got pranks. But the pranks felt quite a bit off and felt more "staged". In the first one, a legit low-budget camera crew followed him around, and all the non-actors thought he was for real. But what was the excuse this time around? You could tell that some people knew it was some kind of prank based on their reactions. And a lot of the "private conversations", such as between Borat and the black lady, or between Borat, the daughter, and the Christian family practice guy, or between Borat and the Republican guys he stayed with. We know these were not actually private, so why were they portrayed as such? Kinda took me out of it. And some of the acting from SBC was a bit off, I felt.
The fertility dance was exceedingly uncomfortable but IMO the best prank of the film, because as an audience we knew there was some excuse for the cameras being there, and the reactions of the innocent bystanders felt genuine.