Hmmm...usually I don't like sequels.
I think the only exception for that (other than the ones that were planned of course, those are good) is Toy Story 2.
I don't think that having the same plotline--a Disney cartoon character falling into our world--would really be able to offer anything that Enchanted didn't. It'd just be the same thing again.
And if they do a continuation of Enchanted with Amy Adams and Patrick Dempsy, I feel like they've had their happily ever after.
I guess we'll just have to see.