Awesome :D
You got all the coolest details from various games and packed it into one awesome flash. Congratulations I say, very well done.
As for a sequel yes, but I don't know if it's going to live up to the expectations, or maybe it will since the quality outbalances the expectations of further innovation. :)
I would suggest more weapons, maps, skins, some new cool features that just make the game even more awesome (by "cool features" I mean, for example, the bullet time, the "direct-rocket-death-steer", the tackles and breakable glass), also Online Mode would be an awesome improvement and would keep a lot of people coming back to play this game.
@ doomff:
To be fair the bots are quite balanced, for example: At some times me and the bot would start shooting each other at a close distance constantly, not moving, and the bot would sometimes MISS the shot as opposed to me. And not always would they shoot the explosives first, only in the last levels where the difficulty was quite insane. :P
And please try to have at least some correct grammar. Although I'm not stating mine is perfect ^.^