Two nobles per continent need not allow two nobles per realm. Just saying, not sure what I think about it myself.
Exactly, two nobles per continent could work. But making it so those two nobles can't be in the same realm. I know just how annoying two character in the same realm can be to play against (for lack of a better term). So I would never want that. But two characters on the same Continent can make for some interesting possibilities (brothers fighting each other, etc.)