I used to service and install air industrial compressors in what now seems like a previous life, back in the day when Australia had heavy industry and we actually made things here. It was mostly pigs dick pumps (screw compressors) but the basics are the same.

You're probably on the right track with a 2hp model but by far the most important stat for an air compressor is the volume of air it can deliver. That's generally rated in CFM (cubic feet per minute). If you attach a tool that requires 150 CFM to operate and the compressor only delivers 120 you're screwed before you start. The tool will run for a while and then wind down and become useless. The volume of the receiver (tank) can compensate for that to a certain extent but it's a poor substitute for a pump that can deliver what the tool needs or preferably a bit more.

A lot of people kill their compressors at home by running industrial quality tools (with a high CFM demand) on a compressor that can't keep up. The motors run almost constantly while the tools are being used and burn themselves out. Warranty is always important too, a compressor with a short warranty is sometimes an indication of poor quality. I've seen people exploit that though when the warranty period is nearing the end they vent them and run the motor until it dies and then take it back and get a new one free.

So look at the CFM requirements of the tools you'll be using that have the heaviest demand and look for something that can keep up. Typical heavy demand tools are things like sanders and grinders, so if you plan on doing a lot that sort of thing it's especially important. An industrial rattle gun on a toy compressor will give it a workout too.

If you're not spray painting you probably won't need to spend a great deal on special filters and driers, a cheap set off the shelf set from a tool shop or ebay will do if it can handle the pressure the system delivers. Just be sure to open the drain at the bottom of the tank on the compressor (while it's still pressurised) after each use to drain the water that has condensed inside the tank.

A light trickle of light mineral oil directly into the snap on fitting on your air tools every time (once per day or maybe a bit more if you're really going at it) before you use them will make them last up to twice as long as they would without it too, Lucas makes a good one that won't harm the seals or gum anything up. It will get a bit messy for a few seconds when you first start them and some jobs you don't want that mess so pick your battles there.

Good luck with it mate.