It's been a long time since I made any new posts, but here goes.
Darth Bane, post-Russan but pre-orbalisks runs a five-person gauntlet. He goes through the gauntlet twice. The first time he is at full strength at the start of each fight, the second time, he gets no rest in between the fights. His opponents are:
1. Agen Kolar
2. Kit Fisto
3. NJO Kyle Katarn
4. Darth Krayt
5. The Kyp Durron/Exar Kun amalgam
How far dose he get?
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Gauntless are useless when they get full rest, so I'ma jump to your second option.
And I assume this is Bane immediately after Ruusan? Because there is nothing on him between PoD and RoT.
With that he goes down at 3, definitely. If not two. He's got two of the greatest swordsmen the Order has ever produced in successive file. And at this point, Bane is nowhere near Palpatine so there'll be no pwnge RotS-style. SHOULD he manage to get by Fisto, then the NJO's battlemaster will take him out.
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Realistically given his training time Russan Bane should lose at 1 (he has less Force potential than Anakin and AOTC Anakin with 10 years of training was probably based on an educated guess on par with Agen Colar, compared to Bane's around one year of training), but based on feats he'd stop at 3 or maybe even 4.
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This is pre-orbalisk bane. His main claim to fame is beating Kas'sim at this point, and Kas'sim's connection to the force was disparaged by Kas'sim himself in that book. That's why he is down the chart.
Bane at his peak is the number 2 sith, in my opinion.
__________________ Every time this fool be come along
He gots you noobs cryin' out fo' mom
Leave the scene lookin' like Vietnam
Might as well call him "Matt Atom Bomb"
Like his name suggests, he's quite atomic
And this fool - he likes DC Comics
Two energy swords make up his symbol
And trust me, dawg, this homie's nimble
__________________ Recently Produced and Distributed Young but High-Ranking Political Figure of Royal Ancestry within the Modern American Town Affectionately Referred To as Bel-Air.