Mike, yes I have considered it. When I was in a 2 rail club I heard bad things about the ME track but I have decided that I like it. It is a little cheaper than Atlas but I am told it is harder to bend. I have some ME track and I am using it as long straights. I hope to build a layout someday and I will use both ME and Atlas track.
I didn't mean to get off topic here. This thread is about if a 2 rail layout will fit in a 15' x 17' space and not about the best kind of track. I just wanted to point out that the prices Russ quoted were old and out of date. Unfortunately, Atlas track prices have risen for both 3 and 2 rail track.