I think, and this is my opinion....That if a Bully 2 ever appears, it will be at a new venue, with all new characters.
That's what I would prefer, at any rate. We've done the Bullworth thing, and there is really nothing left to explore. Mainly, the gliches keep me playing.....But the excitement is seeing new places, unlocking new areas, is what I would like to see.
When MH 2 came out, lots were crying because there was no James Earl Cash...Oh, boo hoo...But MH 2 was a fine stand alone game, IMO, with a plot equal to MH 1. I think it would be the same with Bully 2.....I would like a more expanded area, but other than that, if the characters are different and it's a new area, I'm good with it.