I've yet to play it with 4 people. It's a very different game with 2 people than it is with 3.
For example with 2 people you can pick up your treasure and run away with it... this forces the other wizard into Last Wizard Standing mode unless he can make you drop your treasure.... which is like 1/2 cards in the entire deck.
I won a game once in a couple turns, Turn 1, walk to enemies treasure, Turn 2, walk home and rotate board, Turn 3, stretch & pick up second treasure whilst standing on my home square... drop treasure... win.
Another fun session was me on 1hp, my opponent on 14hp... I walled myself in and he waited outside, I buffed with Big Man Form, Strength, Gemstone of Might and then ate the wall... my melee attack did 14 damage as I rolled a 4. Big man form (3) Gemstone of might (1-4) and Strength (x2) = 6 + 8. My opponent was werewolfing it and was a bit shocked.
the Threeplayer games are a bit different... as you can't protect both of your own treasures and both of your opponents from eachother whilst trying to steal them... it gets chaotic...and fun. Anything that buffs your movement speed in that game is awesome... mobility and counterspelling is key.