A t-walk-regular graph is a graph for which the number of walks of given
length between two vertices depends only on the distance between these two
vertices, as long as this distance is at most t. Such graphs generalize
distance-regular graphs and t-arc-transitive graphs. In this paper, we will
focus on 1- and in particular 2-walk-regular graphs, and study analogues of
certain results that are important for distance regular graphs. We will
generalize Delsarte's clique bound to 1-walk-regular graphs, Godsil's
multiplicity bound and Terwilliger's analysis of the local structure to
2-walk-regular graphs. We will show that 2-walk-regular graphs have a much
richer combinatorial structure than 1-walk-regular graphs, for example by
proving that there are finitely many non-geometric 2-walk-regular graphs with
given smallest eigenvalue and given diameter (a geometric graph is the point
graph of a special partial linear space); a result that is analogous to a
result on distance-regular graphs. Such a result does not hold for
1-walk-regular graphs, as our construction methods will show