I say 3. However, the third trans should be a temporary state, kind of like getting a Starman in the Super Mario Bros. games. Huge speed, huge pl, huge ki, but with an enforced time limit, or some kind of meter that drains as you fight. It would be attained by reaching a certain pl above perfect 2nd trans, then after you lose the 3rd trans, you go back down to perfect 2nd trans pl.
There should also be a reward for a person that actually has the guts to tangle with a 3rd trans character, such as more pl gain per hit, no pl loss when they die, unless they suicide.
I do think they should reduce the power of transformations though. The first transformation in 1.2 should be weaker than the transes now, slower too. The second transes can be about as strong as first transes are now, and well, you already know my position on 3rd transes.
Froman's idea is sound but only one question, if the 1st trans is slower than the normal 1.2 trans, do you say that it would affect the normal speed of characters that begin at a normal lvl. Besides if goku can achieve ssj3, what would be the other 3rd trans, perhaps mystic for gohan, majin for vegeta and i don't know about the rest but froman's idea is good that it is.
im thinking 3...because someone said that trunks only had two trans, well thats not ALL the way true, didnt he go legendary when he got the **** kiked out of him by cell, and well, krillin, who uses him, honestly
To my knowledge trunks has 2 transformations. Supersayian and the Ussj, which is just muscle build up. Later on in the cell fight trunks only increased his power gettin him greater muscle mass, which in turn made him slow and lose to cell. Hence there are only 1 transformation for trunks, unless you count ussj then there'd be 2.
i think they should have 3 transformations but only if:
1. speed increeses in smaller incramenst.
2. the rate in witch you gain pl increeses.
without the first point once you g ssj2 only the best characters will even be able to controll there characters, and without the increes in pl gain it will take too long to achive the later transformations.
There should be 3 trans but like someone allready said, you should loose KI in higher trans (just like using the power up). Something like, you would have enough ki to last 30 seconds in ssj3 (if you're not recharging)