A spectral graph theory is a theory in which graphs are studied by means of eigenvalues of a matrix M which is in a prescribed way defined for any graph. This theory is called M-theory. We outline a spectral theory of graphs based on the signless Laplacians Q and compare it with other spectral theories, in particular to those based on the adjacency matrix A and the Laplacian L. As demonstrated in the first part, the Q-theory can be constructed in part using various connections to other theories: equivalency with A-theory and L-theory for regular graphs, common features with L-theory for bipartite graphs, general analogies with A-theory and analogies with A-theory via line graphs and subdivision graphs. In this part, we introduce notions of enriched and restricted spectral theories and present results on integral graphs, enumeration of spanning trees, characterizations by eigenvalues, cospectral graphs and graph angles.