I love the Deck of Encounters 2. I've loved the DoE2 since I was a lad of fourteen or so. I'm not sure what happened to my original set, but sometime in college I took great pains to acquire a new copy via Ebay. I still have the cards, though they rest loose leaf in a small basket, the original box having been destroyed long ago. I'm fairly sure I'm missing some encounter cards as well.
The encounters are a pretty varied lot in terms of level, combat vs. non-combat, terrain, and so forth. I usually tried to sort them by terrain and level group. There were some encounters I loved so much that they appear in virtually every campaign I ever run at least once. (None of them in my current AD&D game so far... must remedy that.) If I had only one complaint, it would be that quite a few of them reference material from the Complete Handbook series, though it's easy enough to run the encounters without it. (Their mention strikes me as more of a product placement than anything else.)
Oddly enough, I have never owned the first Deck of Encounters.