Well I would THINK that with OBD2, you might actually be fairly well served by just a code reader, if the scanners run too much. Obviously not nearly as useful as a scanner, but with all the input and capabilities of the ECM, I would hope the trouble codes to be a bit more explanatory than OBD1. I just haven't dealt much with OBD2. I'm fairly unhappy with how un-user friendly it seems, I don't see that anyone (other than maybe repair shops) is well served by not easily being able to pull the trouble codes.
I've got an old AutoXray that I use, and I'm pretty happy with it. Not sure if their quality has held up over time, but I wouldn't hesitate to buy their products now.
The good thing when buying a decent scanner is that usually you can do at least a couple of different makes of vehicles, so your friends and family might get some use out of it as well.