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(+2)

How many players are needed and how many maximum before it slows down too much?

(+1)

I would say the ideal group would be 1 GM and 3-5 players, but stretching a little beyond that in either direction wouldn't be a problem.

Even during Combat Encounters, the only part of the game broken down into 'turns,' things move quite quickly as the combat scenes are designed to be more narrative and less crunchy/tactical.