Snapmaker 2.0 upgrades...do I need all the upgrades?

You can kick the 3DP toolhead to the same “quality” as the new head by adding an external fan (cf. 3DP Part Cooling Fan 5015 Replacement), because the main improvement for the new 3DP head is cooling. The extruder gear is a bit finer also, But I do not think that this is a fundamental improvement.

The 10W laser is a huge step up and will do more for speed as the rails - the higher power lets you cut things single pass that the old laser too several passes for, so that’s a considerable speed gain. I’d agree with @Skreelink: It’s slightly overpriced, but compared to the rotary module, which I find ridiculously expensive, it’s still OK IMHO. EDIT: Just checked the current price - forgot that I got it cheaper during preorder phase - current price is again beyond what I find reasonable…

That said, I still may at some point cash in my 50% voucher for the updates and get the new 3DP head, for two reasons: a) the extruder gear will certainly at some point wear down and is difficult to replace, and b) I consider to adapt a Hemera hotend or something like that to the SM2 at some point, because the 3DP toolhead IMHO is not great (just OK) and a more proven hardware may get the quality a noth up. For that, I’d tear down the old 3DP toolhead then to harvest the elctronics, sparing me the effort to develop my own control and interfacing board.