Been playing a wizard in 4e. We are approaching lvl 11, so I have been looking into different PPs (Paragon Paths) and found the Arcane Wayfarer. My question is, does the Teleport 2 from Wayfarer's step add on to your original movement? Or is it just a new movement mode? I.E. Can I teleport 2 then run my full 6 movement right after? Or is it Teleport 2 then run 4?
It's teleport 2 then walk 4, yes.
When a creature combines movement modes [...] two rules govern the combination.
Use Highest Speed: The highest speed among the movement modes used determines the number of squares that the creature can move with the action. Don't add the speeds together.
Maximum for Each Movement Mode: The speed of each movement mode determines the maximum number of squares that the creature can move during the segment of the action that movement mode applies to.
-- "Combining Movement Modes", Rules Compendium p. 204
If this was meant to be just "spend your move action to teleport 2 squares" it could be worded just like that. But by this rule, adding teleport 2 as a movement mode means that, for instance, if Kat the Arcane Wayfarer had a base movement speed of 6 squares and no other movement modes before getting the paragon path feature, she can still move 6 squares as a move action but up to 2 of those squares can be a teleport.