The sequel was PS2 only because the game's publisher was bought by Sony who wanted it to be an exclusive for their relativley new console at the time. Originally it was going to be a PC game and there is some early screenshots somewhere on the web. Due to the PS2's limited memory they had to severley reduce texture resolution which made it look smeared.
The ending sucked because it was tagged on at the last minute as Surreal ran out of time to get the game finished. I think they threw the last two levels together in just a week or two. Nice guys at Surreal they helped with the website and community a lot. One of the guys who worked there still keeps in touch every now and then.
BTW the PCSX2 emulator runs the game reasonably well on a fast PC. I get good framerates but it is a bit buggy. You will need to purchase a copy of the game though as the emulator will only play legally obtained games. Best alternative is to buy a cheap second hand PS2 - the game will not run on a PS3 even the old ones with backwards compatibility. The original USA models of the PS3 supposedly do but I have not tested it.
A lot of PC fans wrote a story of Drakan; basically the events of the two games in story form. A lot had to be re-written due to one players let's just say wild imagination re: Rynn and Arokh but it's not a bad read. It's called 'the order reborn' and it can be found on the fan fiction page at Arokh's Lair.
http://www.arokhslair.net