Some thoughts: If you only are concerned about the essentials like fridge/freezer, some lights, computer, TV, etc, then a small gen is perfectly adequate. Like many others, I have a Honda 2000i inverter gen (actually 1600 watts continuous) which is great. It sips gas, starts right away, is quiet for a generator, and has enough power for those items, (although maybe not everything at once, depending). It's enough for many if not most furnace fans depending on size, you have to look at the surge requirements. There are other ones like Yamaha's. I am on a well with a submersible pump that takes a large surge, so I have about 135 gallons of water stored also. We have to be careful with water in an emergency. I just can't justify a big generator just to run a pump occasionally. Any water suggestions would be appreciated.
Those cheaper generators like the 2-stroke one from HF would be risky to use for sensitive items like electronics. The inverter types give you a nice clean regulated waveform, but you do pay for that.
I keep about 17 gallons of gas in containers, and I keep my two cars full of gas, which can be syphoned if necessary, plus another 5 in a mower. I don't worry about using Stabil because after a few months, I'll rotate all that gas through the cars and burn it anyway, so it all keeps fresh.
Whatever you do, DON'T backfeed a generator into the house. I know, it seems like common sense, but it happens. If you have a large enough generator to partly power the house, it's a good idea to have a transfer switch installed. If you're really rich, get a whole house propane generator with an automatic transfer switch. Now that's the ticket. Edit: Yeah, like Firecracker's...