So let's analyse our options:
[ ] Forebear's Blade - Echo of the Forebear - Cloud-shadow of the Forebear's might. Legendary strength and speed, and the resilience to exert them. Can be taken multiple times. [+Might, +Agility]
Same thing as last time, your straightforward more power option. Somewhat boring, but certainly useful.
-[ ] 2 Arete: Undying Echo - The Forebear could withstand unbelievable punishment, only to rise again. [+++Constitution]
Given our lack of access to healing abilities, this would probably be remarkably useful. On the other hand, Rihaku as confirmed that higher expenditure of Arete are generally more efficient, so it's bound to be somewhat inneficient.
[ ] Forebear's Blade - Fell-Handed Stroke - A devastating blow of unutterable magnificence from which no recovery is possible. A powerful, but draining strike that inflicts cursed wounds from which spirit and will leak as freely as blood. Resists healing.
Another option we've been offered before. Just as good of an option as last time, a powerful special attack that help us cover other medias of attack, by targeting spirit and will, is always going to be useful, particularly as we will eventually be able to spam it. On the other hand, given that it was offered twice in a row, it will probably be offered to us again, even if we don't pick it right now, so we don't necessarily need to pick immediately.
-[ ] 7 Arete: A Thousand Cuts - In the Forebear's grip could even a common knife blaze with fell power. All melee attacks made with the Forebear's Blade now apply cursed wounds. Septuples the power and speed of the Fell-Handed Stroke and allows it to be used with blade projections. Such horrific offensive power allows one to challenge foes vastly stronger.
We don't have enough Arete to pick this but let us analyse it anyway. It make us very effective against regenerating enemies, which is somewhat redundant with Gisena on our side, it allows us to potentially defeat enemies a lot more powerful than we could otherwise defeat, which when combined with Hunger could allow us to progress a lot faster, and finally, when we eventually become able to spam it, it becomes completely insane. Might be worth it eventually.
[ ] 2 Arete: Sword That Was Stolen - King of Thieves - It is the prerogative of the hero true to take the implements of his enemy and turn them against him. For what righteous weapon could deny the verity of his cause, or the valor with which he pursued it?
[++Agility, +Stealth, +Theft], and combat experience now yields some degree of thieving skills. Increases ease and power of the Abduction Forbidden Art.
That looks very strong? Stealing powerful artifacts to add them to our legend is very nice and it doesn't seem like the ability of our enemies to secure their possessions would scale nearly as well as their combat abilities. It also provide us with increased survivability from that agility and stealth and synergize well with our preceding choice of Nightmare Praetor. But it only cost 2 Arete, so it's probably weaker than it looks like.
[ ] 7 Arete: Evening Sky - Star-stuff and velvet darkness in a mantle like billowing clouds. The power of this mantle withstands supernal force and deflects the merely mundane, granting comprehensive protection against many of the ills of the mortal realm and beyond. Abducted by he who hungers, cast now into his thrall. He who dons this mantle speaks with the voice of Evening and shares its haunting majesty. Progression can unlock further abilities.
[++Protection, ++Charisma, grants superior resistance to a wide array of status effects such as poison, mental interference, suffocation, bleeding out, etc. Somewhat vulnerable to dispellation, but acts as an ablative layer to protect the wearer from such.]
It's really a shame we can't afford this one, because such a defense would be ridiculously useful and then it comes with free charisma and we can unlock even more abilities in the future. Oh well...
[ ] Hunger - Sleep of the Just - While sleeping, the character is massively more difficult to harm or physically move, and may choose to deny interruptions to his slumber, allowing his body to be used as a potent shield.
"allowing his body to be used as a potent shield", eh. That's quite the mental image! Reducing one vulnerability is always useful, particularly when one suffer from the Apocryphal Curse...
-[ ] 2 Arete: Slumber of Aeons - Increases well-rested threshold to 10 hours per day, but hours of sleep can now be banked up to a month in advance. Dramatically increases strength gained with age.
A powerful long term investment. The only problem is that the better long term investment is probably to bank our Arete so we don't have to use them so inefficiently...
-[ ] 25 Arete: Dead But Dreaming - That is not dead which can eternal lie. And with strange aeons... Death merely induces slumber in the wearer until the heavens align for his emergence once more. Gain access to the [Outer Sorcery] skill, by which means one's dreams may twist reality towards one's purposes. Apply the effects of To Shatter Heaven to [Outer Sorcery].
Sounds really powerful! As a Progression-type Cursebearer this would eventually make us, pretty much, literally Azathoth (except smarter and, hopefully, less evil, of course). Plus, not dying when we're killed is, indeed, very nice. But look a that cost!
[ ] 2 Arete: Quelling - Instead halves the drain rate of the Decimator's Affliction for six months. Additional unknown effect.
In some way a downgrade, because half the drain rate remain present even during the first month. The unknown effect make this basically impossible to evaluate.
[ ] 7 Arete: Conclusion - Reduces progress by 25% instead, but lasts 2 years. It is easier for the hero to find some measure of peace with regards to the losses suffered at the Tyrant's hands, and is less likely to be emotionally compromised by events that remind him of such. Gives you the moral high ground and the ability to travel to lands barren of life, like outer space. Additional unknown effect.
Cost too much for us to get and basically impossible to evaluate because of the unknown effect, so not much to say here.
In conclusion I think I will go with
[X] 2 Arete: Sword That Was Stolen - King of Thieves
[X] Forebear's Blade - Fell-Handed Stroke
King of Thieves just look too good to pass up, even though I know I'm probably overestimating it. It improve our survivability, offer lots of long term potential and is a one-time offer, so we have to pick it now. Fell-Handed Stroke is just really powerful.
I'll also take the 0.05 signature bonus.