I feel confident that Bone Volume 2 will turn out better. Listening to the feedback, Telltale will be aware of the first games strengths and weaknesses now. Also, I think that The Great Cow Race would be more suited to an adventure game, hopefully a bit more non linear.
It will probably focus more on Phoney and Smiley's antics this time, and there are also some scenes which could make really good use of the multi - conversation thingy, like when Fone Bone has his confrontation with the "hunky" farm boy, that could be really funny.
I'd also be really interested to see how they work Fone Bone love poetry into it, maybe they could turn it into a mini game.