I think a 2nd or even a 3rd album will be a long way off right now. Judging by Axl recent comments, he would rather get the promotion problems sorted with Chinese Democracy and maybe get it pushed a little before he will even contemplate releasing another album.
Axl is probably just trying to cover every base, and rightly so. I can see from his posts on the forum as well as the billboard interview, that there is a lot more going on behind the scenes than any of us thought.
It looks like difficulties with the record label and the fact that he has to do almost everything himself, has held everything up big time. But fair play to him, as the album is excellent and i'm delighted just to be able to buy a copy and enjoy it.