Just finished watching this(EDIT: Since it doesn't come out until Aug 5th, um... I guess this is a preview (cough) ), and it didn't totally suck. Felt more like Robocop 2 really, but what the hell.
Casper Van Dien and Jolene Blalock are the only two good actors in the movie... actually Blalock impressed me (and no she isn't naked in this movie), she plays a Starship Captain and actually pulls it off well. It'll be worth a rental if you enjoyed the first one (like Die Hard 2, just pretend the second Starship Troopers movie never existed).
Spoliers, well they might be for some:
The government is far more oppresive, becoming a focal point in the plot line, so they strayed farther from the books.
Power armor (Marauder) does make an appearance, not bad but you can tell the budget was thinning out.
One bit that is funny to watch is the desert scenes... as they progress Blalock looks like she really has been doing something rugged while the other female 'Holly' (Marnette Patterson) looks like she just walked on to the set from her trailer.
Below is a general outline of the movie:
The war is still going on. Rico is now a colonel. The war has spread and the local planets that have been invaded are blaming the terran government for causing the war to spread (sub plot of Federation crackdown against rebelling citizens inserted here). The Sky Marshall, who is also a pop singer, gets caught in a firefight on a bug planet, escapes, then crash lands on another planet. High Command wants the Sky Marshall dead for reasons that are later explained, but a General and friend of Rico's (and boyfriend to Blalock, who crashed with the Sky Marshall) coordinates an rescue mission with a handful of Marauders (power-suits). Would you like to know more?
-Lego