I just did a little research project with the 4-way program
from May 8 to July 19 (today).

I recorded which list won for each day.

I used the 10 numbers starting with the evening drawing.
I used the results for the next days 2 drawings.
Then I added those two drawings to the program and
and looked at the next days 2 drawings, and so forth.

I ended up with:

3-way = 41 hits (53%)
4-way = 21 hits (27%)
2-way = 14 hits (20%)

The 3-way list is clearly the winner.