I have the Ryobi 3 speed impact, and it works great on the M2 lugs so you'll be ok if you decide to go that route. I use setting 1 (lowest) for running the lugs back down, highest for taking them off.
Bit of a wall of text below here - you mentioned that you were new so I wanted to be as thorough for you as possible. Please don't be offended if I mention something you already know. Also some things can be done multiple ways, I'll just describe how I do it.
FYI, a torque wrench doesn't automatically stop at a given torque, You set it at a given ft-lbs value, then turn it with your hands like a ratchet. Once you've applied that amount of torque it gives an audible click. You can then release the pressure and go for a 2nd click (for some safety margin) but don't push too far past or you're appying too much torque. Always store the torque wrench at it's lowest setting as they are calibrated instruments.
You can run the bolts back down with the impact but seat them first by hand and twist in a few threads (maybe 1/3 of the way in). You don't want to hit them with the impact unless they're fully engaged otherwise you risk cross threading the bolt or the hole it goes into. I ruined a lug nut on an older car by not seating it correctly before blasting it with the impact.
The wheel hanger studs (M14x1.25) are essential. I literally stopped in the middle of my first wheel change to go order a pair. Otherwise its' a *huge* pain trying to balance the wheel on the little hub lip while getting those lug bolts in. You can also do a wheel stud conversion if that's how you'd like things.
Get yourself a pair of gloves (and/or a box of disposables for fluid changes). You don't have to get fancy, I did tons of work on my cars with a $5 pair from home depot until I to a $12 pair of Mechanix gloves.
Regarding safety, don't skimp out on this and IMHO you can't be too paranoid. If you don't already have some jacks and stands feel free to ask, search or private message
My advice is to over-buy on the strength of the jack stands. Also always have a backup in place when the car is up (I keep the jack engaged on one of the lift points).
If you plan on doing more than just wheel changes grab a pair of safety glasses and at least put them on any time you're under the car. Especially if you track, you'll be surprised at how many nasty little pebbles, bits of dirt and grease, even metal shavings will be under there ready to fall directly into your eyes. I learned this lesson the hard way - if you're lucky like me you just get to spend an hour at the Dr's office having your left eye aggressively flushed out with saline while you ponder some life choices.
Good luck and I hope you love your new M2C as much as I love my M2!