The rumors surrounding the M2 are many and conflicting. Some people think that the M line has been discontinued because Canon hasn't released the EF-M 11-22 in the US. Others think that they're saving that lens for the market that shunned the M the most in order to create more hype when the M2 comes out. Additionally, Canon accidentally showed their hand and put "M2" into the help files for their photo processing software. 13 times. To me, THAT is a stronger indicator of future intent than not YET releasing a lens that honestly, isn't a lens EVERYONE needs/wants. It's an ultra wide angle lens, not many people (compared to those who own regular kit lenses) own an ultra wide angle lens.
As for a release date, probably not until next year and yes, probably $800-1000.
The current M is, during most uses, equal to the entry level NEX cameras. The NEX cameras may (according to most people) autofocus a little bit faster than the M, but the M lenses are MUCH better and substantially cheaper than the lenses for the NEX system.
For every day use for subjects that aren't far away, these two lenses will satisfy your needs.
FYI, the 18-55mm lens is about $150. The 22mm is about $100. The EX90 flash is about $100. So, should you buy all of those items separately, they're about $350. That means you have $50 invested in the camera (less than I thought earlier). So, you could take pictures with it now and keep it for the future as a backup should you decide to buy the M2. Or, on the off chance Canon does abandon the EOS M line (I don't think they will, they need to have a camera in the mirrorless market even though mirrorless cameras don't sell well in the US right now for some reason), you've only invested $400 into the EOS M system and it should last you for probably a decade with average use, if not substantially longer. Another way to look at it is that technology will pass it by several times before it finally stops working.