Welcome to the group! I have had a #2 since January, and enjoy smoking something pretty much every weekend...I am sure you will enjoy it. Ribs is a good first smoke, and I think trying the 5 hour smoke rather than the 2-2-1 method will work fine for you. I would suggest adding some BBQ sauce in the last hour. I have not used a water pan, so you might be able to skip that step.
When you set your temp to 225F, don't be surprised to see a wide temp swing if you are using a remote temperature unit (like the Maverick) to monitor the temp in smoker. When I set for 225, it's not unusual to see the maverick temp swing from 210 to 240, but it will average out at 225 over the 5 hour period.
Good luck, welcome, and enjoy!