Plagued by the nightmares they saw in Lankhmar in the last book Fafhrd and the Gray Mouser flee the city and gave their word never to come back only to meet a mysterious figure who predicts they will come back - several times. From this point on the plot became very sketchy with a lot of exploits by the dynamic duo just briefly mentioned. Time passes and the friends have to return to the great city as predicted. From this point on their adventures are described in greater details.
The first book consisted of four stories dealing mostly with the origins of the pair and circumstances of their meeting, some of which are fairly boring to be honest. In this book the stories are shorter: there are ten of them at practically the same page count. This forms works much better as none of the single stories is boring or bad. For the trivia fans: young Glen Cook had some influence on some stories; looks like it was a good one. The pair stumbles from one adventure into another one driven by treasure hunt in most cases, or just a simple restlessness. Most of the time they end up with just enough part of the treasure to get by (read - spend it in a nearest tavern), or just with their lives. Sword fights and last minute escapes are aplenty. This is a classic sword and sorcery book and this time I do not hesitate to call it such.
The final rating is 4 stars. This one is the best out of the first three.
This review is a copy/paste of my BookLikes one: http://gene.booklikes.com/post/979431/the-second-book-is-a-big-improvement-over-the-first-one