I agree with asterix. While the Aironet APs are not the most admin-friendly on the market (I vaguely remember issues with setting up roaming correctly), they work reliably. Unlike the "Linksys by Cisco" AP stuff, which reliably fails.
Concerning Layer7 filtering: it increases CPU usage, but does little to increase security. I prefer not to use it, but your bosses might have a different point of view. If management decides that they want Layer7 filtering, your hardware requirements will rise by order of magnitude.
In my opinion, overly restrictive firewalls will only teach better "hacking skills". Especially in an school/university environment, where information about circumvention of restrictions are commnicated very efficiently (among the users, not towards the administration).
Virus scanners on the firewall doesn't make sense if users are allowed to bring their own hardware into the network. If there has to be traffic between the Guest WiFi network and the "production network", you should concentrate you efforts on this interface. However, this access path doesn't really need to be more hack-proof than from the public internet.