I donβt know anything about AdvancedInstaller, but I assume that this is essentially a package of the RCP product that comes from your assembly.
Yes, you must be able to do what you describe. The inclusion of p2 in the assembly should not change anything with respect to this installer; the assembly results will still be a running RCP product, which you can package.
The only difference is that the product you are packaging will be properly configured for p2. (This will actually be the result of the install operation p2). In addition, the assembly will be able to create a p2 repository for the product, which you can post on the Internet to upgrade the version to version.
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