Hello,
The ironfist installer program (ironfist-install.exe) always seems to create the "Heroes of Might and Magic 2 GOLD" folder.
So, if the game is located in "C:\Users\Inconnu\Desktop\Heroes II Gold" the installer installs all the files in "C:\Users\Inconnu\Desktop\Heroes II Gold\Heroes of Might and Magic 2 GOLD".
You get the error message if you try to launch ironfist.exe from the install folder.
So I copied and pasted all the files from the install folder to the same folder as HEROES2W.EXE (from "C:\Users\Inconnu\Desktop\Heroes II Gold\Heroes of Might and Magic 2 GOLD" to "C:\Users\Inconnu\Desktop\Heroes II Gold" ). Now it works ;-)
Also, as you said that the program needed HEROES2.AGG and HEROES2X.AGG files, I know now why I get the error message with the "Heroes 2 V1.3 The Succession Wars English CD version" and the "Heroes 2 v2.0 The Price of Loyalty French CD version".
For the "Heroes 2 V1.3 The Succession Wars English CD version", there is no HEROES2X.AGG in the folder, this is normal, this is the basic version.
For the "Heroes 2 v2.0 The Price of Loyalty French CD version", there is no HEROES2.AGG file in the folder, all the files are in the HEROES2X.AGG file.
Before my previous post, I tried to copy and paste the installed files in this both versions, but not in the Gold version, my fault ;-)
So, the installer can only work fine with the "Heroes 2 v2.1 Gold English version", this can be a problem for all the players with different language versions.
Also, if the game is located in a folder with a different folder name than "Heroes of Might and Magic 2 GOLD", the installer creates this folder even if you set a different location during installation.
Hope this helps.