You could probably use a compass and set it for two inches and scribe a line around the deck. I'm not sure having the old deck to use as a template will really save you that much work, though. I found it was pretty easy to take measurements and lay it out on some foam insulation boards. I then cut those, test fit them in the boat, and then used them as my template. (I would never have been able to get my deck up in one piece, anyway.)
You probably could cut the deck to fit the lip (from the old deck) left behind, but I think you'd be making it more difficult job. I had a lip near the front of my boat to which I attached my new deck, and that joint required much more work to look good and to be solid than did the places where the deck attached directly to the hull. Attaching the deck to the hull has a decent amount of 'wiggle room'; you have a gap that gets filled with thickened resin (aka peanut butter) and then tabbed over. Pretty simple. Joining the deck to an existing piece of deck requires a cleat, which has to be firmly attached to the existing deck and strong enough to take the load from the new deck. Not easy to do with a 2" lip... By attaching the deck to a lip, you're also increasing the number of places water can intrude and rot your new deck.
Unless you're talking about cutting very small bits, you'll burn out your Dremel. A circular saw, set to cut shallow (e.g., thickness of your plywood, plus 1/16' or so) is much easier. I also bought a cutting blade for my 4.5" angle grinder, but it was only for getting into tight spots. It was a little harder to control. For really tight places, an oscillating multi-tool with a toothed blade worked great, but it was REALLY slow going.
This one I can't picture... not sure I understand your question.
I understand your wanting to leave a lip and avoid having to grind down to the hull, but I think you're better off getting rid of the old deck and making sure the new deck is solidly attached to the hull. I believe the latter approach will actually be less work in the long run.
Good luck!
Jim