If I thought First Blood was more like the new Rambo than I remembered, then Rambo: First Blood Part 2 aka Second Blood is practically the same movie. And much like that movie, it's dramatic shortcomings (and perhaps a confused message) are redeemed by some good action. The action in the new Rambo is better than in the old original Rambo (meaning this one, not First Blood... god I love these confusing titles) but this one is more fun, with a certain indelible 80's-ness and earnest corniness that certainly adds a lot.
Okay, so if we're ranking these, then First Blood is a better movie, but Rambo: Follow-up Blood is more fun. So, um, I guess it's a tie?