2000 is fantasy's equivalent to 1500 points of 40k-- it's sort of GW's standard, although people stateside tend to lean towards 2250 or 2500.
As Asmodai said, the game stops making sense at small points levels... really, the bigger the better with fantasy. It's not that hard to get to 2250 or 2500, either... a lord can easily cost upwards of 300 points, and if you take some of the more expensive options-- monstrous mounts and the like-- they can peak at around 600. It's usually good to have at least three characters when the points limit allows it, and I've found that really, the more the merrier. Unlike 40k, independent characters don't have to worry about a kill zone-- they can clear the front rank before anything else strikes, so you pretty much automatically win the combat. And then the accompanying unit just adds some more wounds in for good measure.