The game is great and I find the back and forth story telling keeps a really engaging story just as much if not moreso than the higher player counts I play the game at.
So the Two Player variant works almost word for word for the 3 player setup during the Epic Battle Phase. During the Mystery phase you would play the game as a Two Player Story telling Mystery with the rules exactly the same for raising the Ancient One at 10 Tokens.
When the Epic Battle Phase begins the NON-ANCIENT player is given an equal amount of MYSTERY tokens that match their current player collection of tokens regardless of which pool they came from at which point they can view the tokens they received.
The NON-ANCIENT player is then given 3 Random Investigators to pick two from and then takes two from this selection (hopefully one that makes use of the current token count) and discards down to the appropiate health token score.
Now play can begin as per the usual 3 Player setup for Epic Battle.
For abilities that target the LEFT or RIGHT of the ANCIENT player these are considered MISSES and only abilties that target the player directly in front of the Ancient one apply.
This works perfectly and has had my Ancient one reduced from the 18 Health to 5.
GREAT GAME - My New Favourite!