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I don't own a Touch 2, but my Aura HD (and most other Kobo's) run the same firmware.
Yes, when there is a firmware update the device will update (as long as WiFi is set up and on), or you can manually update it.
Yes you can add your own fonts. Not sure if all of the Font Genius stuff will work with those fonts though.
2 month battery life? Probably depending on your usage. Usually those estimates are for something like "if you read 1/2 hour a day and with WiFi off".
Is it worth it? Only you can say. It looks like a decent device using old screen tech (Pearl instead of Carta, lower resolution) much like the basic Kindle it directly competes with in the market space.
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