yes, yes, paragon with renegade dialogue.
I liked the first game due to it's immersion, customization of weapons, and its combat mechanics. I hated its dungeons, writing, and vehicle exploration.
I prefer the second game, mostly because the writing was better and it had more variety. I also liked the simpler, but generally more customizable inventory management. A lot of the combat was generic as hell, though, and the in-town areas-- particularly in the Citadel-- felt too limited.
Has anyone played the demo? I went through the first bit of it, and it looks like the new combat system is pretty much the best of both worlds. It's nice that you're not completely invulnerable to shots when in cover, and health doesn't really regen. I dislike that they're keeping the ammo system, though. IMO, the overheat system from ME1 was cooler.