The first book was kind of alright, to be fair, but not liking at all the second one. I think that the third continues the story of the first one, so probably going to read it too and then decide there, but at the moment it looks highly unlikely that I am going to give up in this series.
As I have mentioned a few times in the last few pages, the Malazan world has tremendous breadth over space and time, but the presentation makes it nearly incomprehensible. For the most part, it be will be greatly enjoyed only by readers whose tastes run to figuring out jigsaw puzzles. If you don't get turned on by making detailed notes as you go along and figuring out connections between characters and events as they happen throughout the series, then Malazan is not for you.
That said, you may treat Book 2 almost as a stand-alone book. It follows three main story lines: the travails of Felisin Paran (Ganoes Paran's baby sister), who is sentenced to the labour mines (along with other aristocrats, intellectuals, priests, and other 'undesirables') by the Empress' new Adjunct, Tavore Paran (her older sister); the wanderings of two powered beings, Mappo and Icarium, the latter being perhaps the most powerful being in the Malazan world, who is on a quest to recover his lost memories, and the former tagging along as his friend and 'minder'; and, the Chain of Dogs, about the attempt by a military garrison, led by their war-chief Coltaine, to convey to safety a city worth of civilians, through an entire continent in revolt against the empire. What makes Book 2 worth reading is the Chain of dogs, a story that is, in my humble opinion, unique in fantasy literature. If you manage to reach the end of the book, you'll know why.