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1- playing cards are necessary and model cards are essentially necessary. Only the core book is necessary for rules, and all of the 1st edition ones have no current rules (just good for story, since 2nd edition covers very little of the developments from 1st edition). Avatars, for instance, have been incorporated in to the 2nd edition's 1st book rules now.
2- Short answer, "no", long answer, there are a few things to consider here.
First, rules are only stable on the models printed in book 1, other ones are still in beta (note: 2nd ed book 1 doesn't have the same list as the old book 1, so that isn't a strong reference if you have the old one). Book 1 model rules are bought in decks, too, so you can update old models. There's a pretty limited list, though, of book 1 models whose base sizes have changed since the last edition (which would need to be converted to fit).
Plastic updated crews have just barely started coming out, so there's also that to consider (most are still their original metal sculpts- a few of these are very different (such as the above change in size) but most are about the same).
In the specific case of neverborn, currently you have:
plastic:
-Lynch & co (available to ten thunders and neverborn)
-Lilith & co
metal but with released rules:
-pandora & co (next neverborn scheduled to get plastic)
-zoraida & co
still in open beta on their site:
-the dreamer & co
-Lucius & co (newly cross faction from guild)
-Collodi & co
The only one I'd say to definitely wait on is Pandora, since she has one of the models that is changing sizes and is coming out in the near future; and the only ones I'd say are not going to see any potential changes are Lynch and Lilith, since they're plastic and current edition.
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