Well it's sure as shit better than the first. The K+M controls are still wonky as fuck, but it's easier to get into this time around. I've played the game for over 90 hours using only a mouse and keyboard and, while it hasn't been faultless, it has been pretty decent for the most part. In order to do some special moves like jump attacks and guard breaks, you need to use the keyboard mappings for light and heavy attacks and the jumping is really clunky. So it's not faultless, but it's better than the first games port. Really, it just requires a bit of patience, a bit of practice and it's all good. The UI, for one, is massively improved though, which was an essential fix.
I have nothing but respect for From Software for taking the time to make a PC port and trying to do it justice this time around, which I think, for the most part, they've done here. There are still some issues to solve, but they're taking it seriously which I appreciate. It would be nice if they get someone experienced with PC controls to be a part of the team for Dark Souls 3 though, and get a fully optimised port. I think they have it in them.