I watched the original Stakeout many times when I was 12 years old. I was 13 by the time the sequel hit the cinemas. I saw it at the now demolished UCI Cinema at Kinnaird Park in early 1994. The fact that it was a PG compared to the R-rated original didn't bother me (I wouldn't have been able to see it otherwise).
Chris and Bill are back, joined by then-closested Rosie O'Donnell and her big dog. A mob witness may or may not visit old friends for protection on the beautiful Pacific-Northwestern Bainbridge Island. Our heroes are in the house opposite and their sit-and-wait chore is all the more difficult by their new third-wheel partner. The chemistry between Dreyfuss and Estevez is still perfect, and you really get the sense that these guys work together very well. Shame they don't have a lot to do.
The only big fault with Another Stakeout is that all of the action happens at the very beginning and very end, leaving a massive chunk in the middle for bumbling and low-brow amusement. It works, but it feels very underwhelming when compared to the original. For a belated, throw-away sequel it has a surprising amount of continuity with the first film, normally you don't get that. Stylistically however, this is completely different. Where Stakeout was dark, gritty, and rugged Another Stakeout is glossy with high-key anamorphic Panavision photography. Since the rating was lowered I guess it made sense to change the look of the film.
Another Stakeout languishes in a weird gray area. It's more than above average, but never really achieves any kind of greatness, and for that reason I have to rate it lower than the first.
Touchstone licensed the rights for the film to Mill Creek for release on Blu Ray and it's a big step-up from the DVD in terms of AV quality, this time presenting it in the correct 2.35:1 aspect ratio in lovely 1080p. The end credits claim the film was merely in 'Dolby Stereo in Selected Theatres' and the DTS HD-MA 2.0 soundtrack works just fine. There are no extras whatsoever, and the production design of the Blu Ray and the package is really quite poor. But what do you expect for a budget title? At least it doesn't come in a horrible eco-case.