Currently I drive 50 miles each way daily, which takes around an hour and 15 mins each way. Done it for almost 6 years, driven one car until the wheels pretty much fell off and the 2nd is halfway there now.
You get used to it, but that's not to say it's nice. I guess I put up with it because the job is better than anything locally, pays better and also I don't want to move away from where I live now.
I suppose you weigh up all the options and make a personal decision from there.
Couple of pieces of advice - 2 hours a day or more in the car is a waste of time, in a big way - and it will destroy and devalue your car in no time, so don't get a nice car, get something fit for purpose - diesel, comfortable cruising on the motorway.
Secondly - never estimate the journey based on best timings. An hour may sound do-able, but add in bad weather, traffic, school run, etc and you'll find that hour happens less frequently than you think.
Sorry to sound negative, it's not all bad of course - get some educational CDs etc and the time can actually be productive.