Commercial suborbital point-to-point flights

Let's say a vehicle is developed with capability somewhere between the
real SpaceShipOne and the theoretical winner of Robert Bigelow's
proposed $50 million prize, an orbital vehicle. Let it be a
sub-orbital vehicle that can transport 2 or more passengers
point-to-point over 12,500 miles in a ballistic trajectory, perhaps
assisted by gliding or jet engines to launch/land.

What kind of delta-vee would it require? What might its max velocity
be? If launched straight up, like SS1, what could its max altitude
be?