While DnD2 might have a low budget, it does not mean disaster. Evil Dead 2: Dead by dawn, was made with a slim budget, and it is a great movie, for what it is. Cabin Fever, another low budget movie (which I thought was written INCREDIBLY bad, but still had potential) had a some good qualities. 28 Days Later, was another low budget movie, but a good quality one, very good script, and acting.
The bad thing is that the above examples are only the brightest of the bunch of 'low budget' out there. For each Evil Dead2, there are 50 pieces of flop showing. Just go to SomethingAwful.com and see some of the winners there.
The sad and disturbing thing is that DND (the original one) was HORRIBLE. I could not even see the whole thing, it was JUST that bad. I have NO idea what they were trying to do with it. They had a DECENT enough cast, but everything just fell to pieces. It is my firm belief that it will happen with the rest of the DND films.
Peter Jackson did a GREAT job with the LoTR movies. Yes, there will be people saying on how he did not follow certain parts of the books, but in the end, I think he captured the 'feel' of the setting. When I can sit through a 3+ hour movie without moving ONCE for any reason, that tells me something or I do not want to move for not wanting to miss anything. DND NEEDS the same kind of treatment that LoTR got.