The Crow was just an awesome cult classic movie, the sequels have all been decent considering most of them were straight to video, but Brandon Lee just flat out owned. Its so tragic we lost him so young.
There was a new straight to video Crow movie that was released just last month starring Edward Furlong (Terminator 2) as the Crow. It also stars David Boreanez (Angel from Buffy) and Tara "boobs out in public" Reid. I've heard good things about it considering it was straight to video, perhaps worth checking out.
The first sequel City of Angels starring Vincent Perez and a bunch of foreign peeps was horrilbe at best. They tried too hard simple as that.
The third sequel which starred Kirsten Dunst and Eric Mabius (Resident Evil, played the guy who became the Nemesis) as the Crow. A much better storyline, tired less hard. Was just a good movie, it was the first straight to video and turned out pretty well. God only knows how long they'll keep pumping this series though.
I think if they do another one they should try putting a female as the Crow, or maybe that's just be too hot/badass.