Fright Night II already has an outstanding Preservation on Blu Ray. Check out this thread...
http://originaltrilogy.com/forum/topic.cfm/Fright-Night-Part-II-1988-RELEASED/topic/15710/
I'm not going to say that you potentially wouldn't benefit from a 35mm print, as it's always nice to have new material for comparisons sake, but considering how good this one is, I'd definitely focus on your other film, Deadly Friend first.