The ten second summary impression - 

Some amusing vignettes.  However, overall somewhat disappointing.  There
are too many repeated series (KOR, Ranma, UY, SM) and too many of the
characters use gender confusion (Shun, Ukyou, Haruka, Ryuunosuke).  First
season had a better balance and mix of characters.  There are many other
series set roughly in present-day including YUA, Ghost Sweeper Mikami,
Phantom Quest Corp, Gunsmith Cats (I know it's set in Chicago, but I'm sure
that there is some way to get Rally or Minnie May over to Tokyo), Project
A-ko, MB, and DHY.  

The inclusion of Yotsuya is problematic.  It is funny to see him clueless
as to the real sex of many of his housemates.  However, apart from the
question of why the producers would allow an older man to remain in what is
supposed to be a group of young people, there is the addded problem that
Ukyou, Haruka, Ryuunosuke, and Akane would have absolutely no qualms about
sending him to the hospital if they caught him peeping and Yotsuya was
never that discreet. 

                                                                dml