The 2 x 2 is a good little entry level machine. Biggest problem is that you will need to cut your plate (which normally comes in 4 or 5 foot width) to fit on the machine.
Upgrades you can do.....put on a better plasma (Hypertherm) and upgrade to the AVHC torch height control. Good hole quality and consumable life are a combination of a good plasma torch design, accurate pierce height and cut height (height control) and good motion control.
I use a Hypertherm Powermax45 on my Torchmate 2x4 machine with AVHC.....holes are very nice.