2/4 of my own kids are peanut-allergic, so I am well versed in EpiPen and Benadryl scenarios. *touch wood* I have not had to administer the EpiPen or the like. Benadryl will take care of what we have dealt with up to this point.
However, I always ensure that we have one around. Non-life threatening can, unfortunately, turn into life-threatening in one reaction. Scary stuff. I would recommend looking into the Allerject over the EpiPen. It has voice prompts, and a countdown for administration. I believe it even reminds you to call 911 after the injection.
Do your research, think about your own capabilities and make a judgment based on that.
Personally, I would not be able to do a long list of allergies. I can ensure that our home is nut-aware, but dairy/wheat/soy/etc would be difficult for me.