4P Progression Cycle 1 (Core + Shadows of Mirkwood)

Rules: Standard Progression series, where cards are unlocked by original release date, with the caveat that cards are unlocked by cycle (not by AP) similar to the newer (and also Arkham Horror) style.

The card pool was pretty thin for a four player experience at this point in the game's life cycle, but viable decks are still possible. I had thought Dáin Ironfoot didn't show up until the second cycle, but since he's available he makes an easy first choice because with four players his synergy can increase significantly. This then drives us to use as many dwarfs as possible (not that there are that many).

Purple

Théodred is an endgame hero so easily takes the first slot. Dain was already mentioned for the second slot. Glóin is already viable without Dain but even better with Dain. Aragorn is also a solid choice for the third slot; too bad he wasn't available to Green or Blue where the hero roster is weaker. The deck is all about teamwork. Spread around the money, cards, and attachments to build the team. Give Dúnedain Signal and Dúnedain Warning to Denethor, Dúnedain Cache to Gimli (throwing axes), and so on. Use Sneak Attack + Gandalf + Valiant Sacrifice to fuel your own engine.

Red

Legolas is an endgame power hero and an easy choice. Gimli is good without Dain (though maybe Brand son of Bain would be better) and great with Dain. Thalin is a marginal choice without Dain but an extra pip of willpower on his questing tips things over the top, plus Cycle 1 has those annoying crows that Thalin slaughters without effort. The deck is Eagles with what little Dwarf support exists. Song of Mocking is for Glóin first then Gimli then Gloin again. Citadel Plate is for Glóin (Gimli will dual-wield axes, which takes all his slots). Support of the Eagles is for Denethor and Gimli. Eventually Quick Strike with Gimli (2x Dwarven Axe, Dúnedain Cache, Dúnedain Mark, Support of the Eagles) should enable you to kill even bosses without a fight. If you'd prefer to boost Legolas, that's also reasonable so you get the questing bonuses, but it's harder to get him to the level of boss-solo.

Green

Beravor is an endgame power hero, so easy first choice. Denethor is solid for the second slot and will be the team's primary blocker (with A Burning Brand, Dúnedain Signal, Dark Knowledge, Dúnedain Warning, Support of the Eagles, Unexpected Courage). That leaves Bilbo Baggins or Glorfindel for the third slot, both of which are dubious choices (overpriced threat values). I went with Bilbo because I love card draw and grinding value (plus he's a secondary target for Fast Hitch after Frodo Baggins gets his), but Glorfindel would be better for speed runs and (for Cycle 1) would be the only way to heal allies. Self Preservation goes on Glóin first, then Denethor, then Gloin again.

Blue

Eleanor and Éowyn are both endgame heroes, so easily make the first two slots. Frodo Baggins (with Fast Hitch) beats Dúnhere for the last spot (though stacking Dúnedain Mark and Support of the Eagles on him could be fun). The deck list is just trying for best value, no particular synergies, though it's worth noting Stand and Fight can grab from any player's discard and Éowyn provides instant ability for any player to discard a good Stand and Fight target. All three copies of Unexpected Courage go on Denethor so he's always got a block ready and since his activated ability is unlimited you can always use your excess for scouting the encounter deck (except for VP or Objective cards cards, always choose to bottom the card and you'll eventually know the entire deck ordering). Really the main plan though is Ancient Mathom and The Galadhrim's Greeting as much as possible.