Volume one focused on introducing the characters and storyline. Volume two focused on the mythology.
Tuxedo Mask and Sailor Moon have figured out who the other one was, but still don't know if they can trust each other. There were some great moments between the two of them as well.
Within the first chapter, Sailor V shows up and introduces herself as their missing Moon Princess. But is she? If you've seen the series, or noticed all the artwork for the princess, you know the answer. Sailor V does take out Zoicite, which ruins the streak of being killed by your soulmate I mentioned from the first volume.
Minako is one of my favorite characters and I was happy that she finally showed up. I actually would prefer for them to drag out the charade of her being the princess a bit longer in the new series. It never even happened in the original anime.
This volume also featured Kunzite, now the last of the Kings of Heaven, attacking Tokyo which results in everyone getting their memories of the Moon Kingdom back and Princess Serenity producing the Legendary Silver Crystal and remembering her past with Prince Endymion of Earth.
The scouts aren't the only ones who gain their memories. Kunzite also remembers his past as Prince Endymion's friend and ally and how the reborn generals were brainwashed into fighting for the Dark Kingdom. Unfortunately, Queen Beryl gains control over him again and he fall in part two of his attempt to take over Tokyo. At least he was taken out by a combined attack from four of the scouts. There's a reason he was considered the leader of the Kings of Heaven.
The scouts also go to the Moon Kingdom to find out more about the past and allows Sailor Venus to gain a sword (please let her have it in the new anime!)