This film is an improvement on Lock Stock in pretty much every way imaginable. The action is more intense, the comedy is funnier, the characters are more understandable, and the plot is more interesting.
There are two stories in this movie, one is about stealing a diamond, the other is about revenge of a gypsy. The diamond story is humourous but does not really carry the story. The other story is more engaging but also not perfectly executed. A comedy film can be badly executed and still manage to be somewhat funny but a revenge story must have the audience identifying with the avenger otherwise it will completely fail as happened with Darkman. Therefore the inclusion of both stories into one film was a good idea as it at once attracted attention from the less-than-perfectly executed revenge story to the comedy side-story, whilst retaining some emotional impact when the revenge finally hits.
Overall, whilst following the same formula as Lock Stock, the movie is better in most ways and can be regarded as an improved version of Lock Stock. The superficial attempts to be "British" shows through once again as the mutated stereotypes for the Russian Boris and American Avi are at once shallow and unfunny.