Heck.
First off, if Valev knows he's limited in time stops and knows he's fighting two enemies, he's probably going to take this decently more serious. Without his failsafe of time stop, he'll have to be quite a bit more resourceful. Given they are 10 miles away, this means Valev will have to take advantage of his other skills and abilities to pull out a win.
AP: Valev. While FEG stomp ~300 ton characters, Valev's around on par with characters slightly above 600 tons, so Valev can comfortably beat either of them in solo combat.
Speed: Likely Valev. They both have speed amp, but to my knowledge, Valev is far more likely to spam his speed amp which, to record, allows him to nearly blitz people in the verse who don't also have extremely fast speeds.
Intelligence and Skill: Intelligence likely goes to Valev simply by the nature of having justification and evidence at all. Skill is a bit closer, but Valev has far more years of experience here.
There being two Fallen Elf Generals with various sword skills is what really hits Valev hard, though. His advantage in any given category isn't massive, and the two of them are certainly very skilled in fighting together. While Valev can take on multiple enemies, the Fallen Elf Generals are a fair bit better than the average dope.
On the other hand, Valev does have his flames, although in a stealth battle he'll be unlikely to use them, especially against elves (He usually sees elves as more magic-oriented), although he may start using them more later in the battle if he sees they have little in the way of magic.
Fallen Elf General's ability to break weapons is also useful, as it limits Kiri. At the same time, Valev can use his time magic to reverse it back into place.
Now, to what will actually happen in the battle;
Naturally, Valev will take a few seconds to figure out what to do, and decide a stealthy approach is best. He'll put effort into this, seeing as elves in his minds have enhanced senses. However, even with the elves' enhanced senses, it's best not to underestimate his stealth. While a majority of his best stealth feats come in World of Myths, he's still adept in sneaking around and waiting for the right time to strike.
Extrasensory Perception lets him mess with Fallen Elf General's attempts at stealth slightly, although the fact that they literally lack a soul means that Valev will only be able to track their general vicinity rather than their exact location.
One big advantage for Valev is the location, surprisingly enough. The Fallen Elf Generals come from the SAOTTG, and by extension, a more fantasy-driven world. Meanwhile, Valev grew up his entire life in Noviaa City, which would resemble New York in quite a few ways. He'd have far more resourcefulness in finding his way around and improvising equipment if need be, compared to the Elves who would be fighting in a very new environment.
As the battle starts, Valev will likely take off towards a building and activate his reading of the leylines, sensing that while they don't have a soul, he can still track them based off of their power. He'll then move around stealthily, occasionally waiting completely still to wait for the Elves to come to him by chance. (Valev doesn't need to breathe, so if he stays still, there's really no way for the Fallen Elf Generals to hear him at all.)
The question is, though, can Valev beat the two of them? And in this scenario, yes. Valev will use his stealth to time stop and drag one of the Fallen Elf Generals across the city and to a hard-to-reach location, since in a one-on-one fight, he'll certainly win without much difficulty. By the time the other elf finds them, he'll probably have already taken one out, and then all he has to do is finish the job.
If things go horribly wrong, he can take to mid-ranged combat, bombarding them with Kiri attacks while slipping in and out of direct combat in an attempt to tire them out and figure out their weaknesses and flaws, and adapt to beat them.
As it is and based on what I've heard about the Generals from previous threads, I vote Valev.
