JMich: Depends on what the 2nd step is actually. Take a look at the Battle.net authenticator. Unless the attacker can get his hands on the user's token or phone, he won't be able to make use of the password, no matter how compromised the PC is.
That is of course assuming that you can't grab the current session to use through a different machine.
Good example. I had to use authenticator because it was requirement to use Real Money Auction House. Years later my old phone got lost somewhere (I might find it if I will seriously try) and so is my access to battle.net (I might try to recover it, but I need to scan passport and stuff like that)... As I lost interest in current ActiBlizzard products I simply said "screw it" and moved on. So it is good example of how additional security backfires at actually caring users.
haydenaurion: Edit: And the greater attention from hackers from TW3 and Galaxy launch is exactly why gog needs two-step.
A lot of new users. New big game. Guess how many of those new users were browsing web for various cheats and trainers, and were so impatient to try out bootleg copy which was released before official one? A lot of them were probably quite ashamed to acknowledge why they were hacked (as they got malware with all those trainers, bootleg stuff and such), but it was so easy just to blame GOG (and russians, just because).
zeroxxx: I hope you never get assignment on security stuffs, because your job will fail spectacularly.
I know how security works. And I know that if someone will follow some link like www.GetMalwareHere.com, he WILL get his accounts hacked. So what? Because some people click these links or do other strange stuff, others need to go through multiple steps verification? There were many people who were hacked even with Blizzard authenticators. Why? Because they were so dumb that their PCs became paradise for all kinds of malware (Blizzard themselves had to write about it). But of course they were bashing Blizzard and tried seeding panic.
Fine, make it, but optional, and turned off by default. There are already so many "helpful" things which are automatically turned on on other sites and in various software, keeping track of all of them becomes quite stressful.